Trading: BUY @ $0.505
Signal Strength: STRONG
Indicator is best used in conjunction with additional indicators as it has the ability to highlight potential overbought or oversold levels. This indicator utilizes upper and lower bands to visually represent price extremes associated with the bands. Additional value can be added to the trading strategy by accessing divergences between price and volume.
IFN (ASX:IFN) is currently Oversold highlighting the potential for a short term trend reversal in the upward direction.
In technical analysis of securities trading the stochastic oscillator is a momentum indicator that uses support and resistance levels. Dr George Lane developed this indicator in the late 1950s. The term stochastic refers to the point of a current price in relation to its price range over a period of time. This method attempts to predict price turning points by comparing the closing price of a security to its price range.
Calculation: Stochastic Oscillator:
1) %K = (Current Close - Lowest Low)/(Highest High - Lowest Low) * 100;
2) %D = 3-day SMA of %K Lowest Low = lowest low for the look-back period Highest High = highest high for the look-back period %K is multiplied by 100 to move the decimal point two places;
PROFILE: IFN (IFN.AX)
Stock Exchange: ASX
Ticker Codes: | IFN.AX | ASX:IFN |
Infigen Energy Limited develops, owns, and operates renewable energy generation assets in Australia. It has 557 megawatts of installed generation capacity in New South Wales, South Australia, and Western Australia. The company's development pipeline comprises approximately 1,100 megawatts of wind and solar projects in Australia. Infigen Energy Limited was founded in 2003 and is headquartered in Sydney, Australia.
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