1ST TIMEFRAME TREND
Trading: BUY @ $9.3
Signal Strength: WEAK
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has been constructed to highlight the existence of a trend for an assocaited timeframe. Trend determining indicators can be used in short, medium or long term timeframes & determines if the stock is trending or ranging. Once the trend status is quantified, this can then be coupled to additional indicators to add a significant advantage to the trading strategy.
Lovisa (ASX:LOV) is in an uptrend in the short term timeframe. The buyers have dominated the daily trade, however further confirmation is required before taking a position
The Tricklar short term trend indicator (T1) highlights the high points and low points associated with the individual bars. As such, successive rallies penetrating preceding high points whilst cancelling preceding lower troughs offer a BULLISH indication in the second time frame. Conversely, failure of rallies to penetrate previous Lower peaks whilst maintaining prices below the previous lower troughs indicates BEARISH trends in the second timeframe.
Calculation: Tricklar short trend (T1):
1) [BULLISH] An uptrend is a succession of higher highs and higher lows;
2) [BEARISH] A downtrend is a succession of lower highs and lower lows;
PROFILE: Lovisa (LOV.AX)
Stock Exchange: ASX
Ticker Codes: | LOV.AX | ASX:LOV |
Lovisa Holdings Limited operates as a fashion jewelry retailer. It designs, develops, sources, and merchandises fashion jewelry and accessories under the Lovisa brand name to fashion conscious females aged 25-45. As of July 2, 2017, the company had 288 retail stores in operation, including 23 franchise stores. It operated stores in Australia, New Zealand, Singapore, Malaysia, South Africa, and the United Kingdom; and franchised stores in the Kuwait, the United Arab Emirates, Oman, Bahrain, and Saudi Arabia. Lovisa Holdings Limited was founded in 2010 and is based in Hawthorn, Australia.
1st timeframe trendDownload
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