Magellan Financial

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%

What indicators would you like to backtest?

Trading Performance

Open vs Close

Score

0.4

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 106 4.7 0.43% 0.75% 2.7% -1.4% 42.1%
SHORT 106 4.2 0.40% 0.65% 2.2% -1.6% -13.2%

Summary

Technical Analysis

Magellan Financial (MFG.AX)


Indicator:

OPEN CLOSE CHANGE


Last Signal:

BEARISH


Trading: SELL @ $44.58
Signal Strength: WEAK
Recommendation:

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.


Magellan Financial (ASX:MFG) opened in the lower part of daily range at 13.2% & closed in the middle part of the trading range at 63.2%. This suggests the buyers have lost commitment. Over the last 12 months there has been 1 trading days with the opening price in the lower shadow & the closing the price in the middle shadow giving a confirmation ratio of 0.4%. Over the last month there has been 1 trading days with the opening price in the lower price range & the closing the price in the middle price range giving a confirmation ratio of 6.7%.



The opening and closing bar positions can add depth to assess whether buyers of sellers commitment is changing and thus which side is in control at the close of the trading session.

Calculation: Open Today Versus Close Today (OTCT):
1) If the market opens near the low and closes near the high the buyers have had control during the entire day;
2) If the market opens near the high and closes near the low the sellers have had control during the entire day;
3) If the market opens near one extreme of the range and closes near the middle of the range the side who started in control has lost commitment;
4) If the market opens near one extreme and closes near the same extreme the side who started in control has lost control;
5) If the market opens near the middle of the range and closes near one extreme control has swung to the buyers;
6) If the close is near the high and if the close is near the low the control has swung to the sellers;
7) If the market opens near the middle of the range and closes similarly neither side is strongly committed;


PROFILE: Magellan Financial (MFG.AX)


Stock Exchange: ASX
Company: Magellan Financial
Ticker Codes: | MFG.AX | ASX:MFG |

About Magellan Financial (ASX:MFG):

Magellan Financial Group is a publicly owned investment manager. The firm provide its services to high net worth, retail, and institutional investors. Magellan Financial Group is based in Sydney, Australia.

Top 10:

Open vs Close

Download
Company Close Change(%) Volume Value Signal
GGG Greenland Minerals 0.13 39.8 7,332,468 1 BULLISH
OFX Ozforex 1.66 17 632,739 1 BULLISH
LYC Lynas Corporation 2.26 14.4 20,354,647 0 BULLISH
BNO Bionomics 0.15 11.1 659,788 0 BULLISH
MOC Mortgage Choice 1.01 11 787,250 1 BULLISH
ALK Alkane Exploration 0.27 10.4 3,467,000 1 BULLISH
MTO Moto Goldmines 1.29 9.3 114,410 0 BULLISH
CAJ Capitol Health 0.25 8.9 909,320 1 BULLISH
ANG Austin Engineering 0.19 8.6 300,979 1 BULLISH
ADH Adairs 1.9 8.6 3,220,406 1 BULLISH