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

Elder Ray Index

Score

-0.65

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 20 28.1 0.35% 0.54% 6.2% -7.2% -49.4%
SHORT 21 10.6 0.52% 1.10% 3.4% -4.0% -2.8%

Summary

Technical Analysis

Maca (MLD.AX)


Indicator:

ELDER RAY INDEX


Last Signal:

BULLISH


Trading: BUY @ $0.935
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.


Maca (ASX:MLD) Elder Ray Index is signalling a Bullish movement



A technical indicator developed by Alexander Elder that measures the amount of buying and selling pressure in the market. This indicator consists of two separate indicators known as bull power and bear power. These figures allow a trader to determine the position of the price relative to a certain exponential moving average (EMA).

Calculation: Elder Ray Index (ERI):
1) Bull Power = Daily High - n-period EMA;
2) Bear Power = Daily Low - n-period EMA;


PROFILE: Maca (MLD.AX)


Stock Exchange: ASX
Company: Maca
Ticker Codes: | MLD.AX | ASX:MLD |

About Maca (ASX:MLD):

MACA Limited operates as a mining, civil construction, and road infrastructure company in Australia and Brazil. The company offers loading and hauling services; and drilling and blasting services, including production drilling and blasting for surface mining operations or quarries, pre-split drilling, contour drilling and pioneering, blast hole sample drilling, probe drilling, pre-split and final wall blasting, drill and blast design, blasting solutions for civil construction, and controlled blasting. It also provides crushing and screening services to deliver tailored screening and sizing solutions, as well as materials handling solutions. In addition, the company offers civil road and infrastructure asset management and maintenance services, including roads construction and maintenance, design and construction of bridges, and parks and gardens management services, as well as vegetation management, verge work, heavy lifts and safety barrier, and specialist services to government organizations. MACA Limited was incorporated in 2002 and is headquartered in Welshpool, Australia.

Top 10:

Elder Ray Index

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DCN Dacian Gold 0.95 22.6 7,221,770 -0.01 BEARISH
RFG Retail Food 0.21 13.9 602,168 -0.01 BEARISH
CGS Cogstate 0.22 10 8,100 -0.01 BEARISH
EWC Energy World Corporation 0.1 9.2 682,001 -0.01 BEARISH
PRU Perseus Mining 0.77 8.5 17,484,605 -0.01 BEARISH
RMS Ramelius Resources 0.86 8.2 7,633,542 -0.03 BEARISH
CCV Cash Converters International 0.16 6.7 696,944 -0.08 BEARISH
BPT Beach Petroleum 2 5.3 9,549,948 -0.18 BEARISH
CUV Clinuvel Pharmaceuticals 32.81 5.2 256,141 0 BEARISH
PRT Prime Television 0.23 4.5 173,226 -0.02 BEARISH