OPEN CLOSE CHANGE
Trading: SELL @ $1.15
Signal Strength: MEDIUM
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.
Infomedia (ASX:IFM) opened in the upper part of daily range at 86.7% & closed in the lower part of the trading range at 13.3%. This suggests the sellers were in control all day. Over the last 12 months there has been 2 trading days with the opening price in the upper shadow & the closing the price in the lower shadow giving a confirmation ratio of 0.8%. Over the last month there has been 2 trading days with the opening price in the lower upper range & the closing the price in the lower price range giving a confirmation ratio of 16.7%.
The opening and closing bar positions can add depth to assess whether buyers of sellers commitment is changing and thus which side is in control at the close of the trading session.
Calculation: Open Today Versus Close Today (OTCT):
1) If the market opens near the low and closes near the high the buyers have had control during the entire day;
2) If the market opens near the high and closes near the low the sellers have had control during the entire day;
3) If the market opens near one extreme of the range and closes near the middle of the range the side who started in control has lost commitment;
4) If the market opens near one extreme and closes near the same extreme the side who started in control has lost control;
5) If the market opens near the middle of the range and closes near one extreme control has swung to the buyers;
6) If the close is near the high and if the close is near the low the control has swung to the sellers;
7) If the market opens near the middle of the range and closes similarly neither side is strongly committed;
PROFILE: Infomedia (IFM.AX)
Stock Exchange: ASX
Ticker Codes: | IFM.AX | ASX:IFM |
Infomedia Ltd., a technology company, develops and supplies electronic parts catalogues and service quoting software systems for the automotive industry in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company's parts solutions include Microcat LIVE, Microcat MARKET, and Auto PartsBridge that allow users to identify replacement parts manufactured by original equipment companies; and Microcat CRM, which connects the sales channel from original equipment manufacturer (OEM)s to wholesale customer. Its service solutions comprise Superservice Menus, Superservice Triage, Superservice Insight, Superservice Register, and Superservice Connect, which allow users and OEMs to deliver service performance for their customers. The company also provides data management products comprising lubricants recommendation database, lubrication and tune-up guide, and data consulting services. In addition, it engages in the information management, analysis, and creation for the automotive and oil industries. Infomedia Ltd. was founded in 1987 and is headquartered in Sydney, Australia.
Open vs CloseDownload
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