Trading: BUY @ $0.23
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.
Macmahon (ASX:MAH) buyers are currently keener than sellers and are driving the price up. This is the first day of price rise for MAH adding strength to an uptrend change in the first timeframe. The biggest upward movement this month has been 2.3 & the greatest daily positive change this year has been 6.7. The longest consecutive upswing rally over the last 12 months has been 2 days giving a total rally upward movement of 9%. This quarter, the largest upswing rally has been 2 days giving a total rally upward movement of 9%. The win ratio for price rise in the first timeframe for the last 12 months is 0x giving a total win/loss ratio of 3x. Over the last month the average daily upward movement has been 2.300000%
The only price most market participants look at is the closing price in relation to the previous day’s close. As such the position of the close has the ability to highlight recent performance and indirectly the keenness of traders.
[Calculations] Close Today Versus Close Yesterday (CTCY):
1) [Close] > [Close Yesterday] = Buyers keener than sellers;
2) [Close] < [Close Yesterday] = Sellers keener than buyers;
3) [Close] = [Close Yesterday] = Neither are keener
PROFILE: Macmahon (MAH.AX)
Stock Exchange: ASX
Ticker Codes: | MAH.AX | ASX:MAH |
Macmahon Holdings Limited provides contract mining services to clients in Australia, New Zealand, South East Asia, Mongolia, and Africa. The company operates in three segments: Surface Mining, Underground Mining, and International Mining. It offers surface mining services, including mine planning and management, drill and blast, bulk and selective mining, crushing and screening, train loading, mining equipment usage, and mine management. The company also provides underground mining services, such as underground development and production, portal establishment, raise drilling, cable bolting, shotcreting, remote shaft lining, production drilling, and shaft sinking services. In addition, it offers engineering electrical, fabrication, infrastructure construction, and mechanical services; underground pumping and infrastructure construction services; and emergency egress systems, and conveying, crushing and materials handling systems. Further, the company provides complete on-site maintenance and plant management support services. Macmahon Holdings Limited was founded in 1963 and is headquartered in Perth, Australia.
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