Trading: BUY @ $11.44
Signal Strength: WEAK
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.
Invocare (ASX:IVC) buyers are increasingly eager. This is the first day buyers have increased eagerness for IVC adding strength to an uptrend in the first timeframe. The biggest price range this month has been $1.1150. & the greatest daily price range this year has been $5.2600. The price range ratio this week versus the quarterly price range is 0.4x & the price range ratio this month versus the year to date price range is 0.2x.
The range of the bar gives important information about the strength of weakness of a trend. If buyers are very committed they will be keen to buy and will tend to bid the price up even in the face of some selling pressure. Price will quickly & easily move upward and the move will tend to be significant. As such expanding ranges indicate the either buyers or sellers becoming more committed. Alternatively once the range begins to contract the side in control are losing commitment.
Calculation: Range Today Versus Range Yesterday (RTRY):
1) Expanding ranges on the upside indicates that buyers are increasingly eager;
2) Expanding ranges on the downside indicates that sellers are increasingly eager;
3) Contracting ranges on the upside indicates that buyers are becoming less eager;
4) Contracting ranges on the downside indicates that sellers are becoming less eager;
PROFILE: Invocare (IVC.AX)
Stock Exchange: ASX
Ticker Codes: | IVC.AX | ASX:IVC |
InvoCare Limited provides funeral, cemetery, crematoria, and related services in Australia, New Zealand, and Singapore. The company operates 250 funeral homes, and 16 cemeteries and crematoria under various brands. It also offers HeavenAddress, an online memorial community; LifeArt coffins; and Guardian Plan, a prepaid funeral plan, which enables prepay selected funeral services. In addition, the company operates MyGriefAssist, an online grief resource Website; MyMemorial, a Website that provides range of cremation and burial memorial options; Funeral Planner, a digital funeral planning service; and FuneralAdvice that provides information on funerals and related topics. InvoCare Limited is headquartered in North Sydney, Australia.
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