Independence

Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Ease of Movement

Score

-0.3

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
SHORT 46 7.6 0.50% 1.00% 2.4% -3.9% -34.7%
LONG 46 9.8 0.61% 1.27% 3.3% -3.4% 19.6%

Summary

Technical Analysis

Independence (IGO.AX)


Indicator:

EASE OF MOVEMENT


Last Signal:

BULLISH


Trading: BUY @ $5.45
Signal Strength: MEDIUM
Recommendation:

Volatility indicators highlight potential moves of a stock which can either move sharply in the updwards or downwards direction. This indicator allows stocks to be compared on a level playing field to highlight high and low volatility. Normally, falling markets are more likely to be volatile than a rising markets due to the emotion that gets tied to trading. Use volatility indicators in conjunction with other indicators to reduce exposure to false moves.


Independence (ASX:IGO) current price have moved upwards on low volume. Currently, the EOM is 0.106.



The Ease of Movement (EOM) is a technical momentum indicator that is used to illustrate the relationship between the rate of an assets price change and its volume. This indicator attempts to identify the amount of volume required to move prices. Generally a value greater than zero is an indication that the stock is being accumulated (bought) and negative values are used to signal increased selling pressure. A high positive value appears when prices move upward on low volume. Strong negative numbers indicate that price is moving downward on low volume.

Calculation: Ease of Movement (EOM):
1) Distance Moved = ((H + L)/2 - (Prior H + Prior L)/2);
2) Box Ratio = ((V/100 000 000)/(H - L));
3) 1-Period EMV = ((H + L)/2 - (Prior H + Prior L)/2) / ((V/100 000 000)/(H - L));
4) 14-Period Ease of Movement = 14-Period simple moving average of 1-period EMV


PROFILE: Independence (IGO.AX)


Stock Exchange: ASX
Company: Independence
Ticker Codes: | IGO.AX | ASX:IGO |

About Independence (ASX:IGO):

Independence Group NL operates as a minerals mining, development, and exploration company in Australia. The company operates through Tropicana Operation, Long Operation, Jaguar Operation, Nova Project, and New Business and Regional Exploration Activities segments. It holds a 100% interest in the Jaguar zinc, copper, silver, and gold mine that covers an area of 475 square kilometers of tenements located in Western Australia; the Long nickel mine located near Kambalda in Western Australia; and the Nova nickel and copper project located to the east of Norseman in Western Australia. The company also holds a 30% interest in the Tropicana gold mine that covers an area of 3,000 square kilometers of tenements located to the east northeast of Kalgoorlie. Independence Group NL was founded in 2000 and is headquartered in South Perth, Australia.

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Ease of Movement

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