Mcmillan Shakespeare (MMS)

Roger Cole devised a method to use rally and reaction days. Cole disregarded inside and outside days to find three rally days in a row or three reactions in a row. This is like three soldiers or three crows in candlestick pattern analysis, except Cole allowed for inside or outside days to intervene. Three soldiers and three crows, while rare, are extremely reliable. So Cole gave us some relief from a strict definition, but traded off increased frequency at the expense of reliability. Cole also used moving average crossovers to augment the two-day (rally, reaction, inside, outside day) results.

Calculation: Coles Reaction Day:
1) Rally Day: High > High yesterday & Low > Low yesterday;
2) Reaction Day: High > High yesterday & Low < Low yesterday

PROFILE: Mcmillan Shakespeare (MMS.AX)

Stock Exchange: ASX
Company: Mcmillan Shakespeare
Ticker Codes: | MMS.AX | ASX:MMS |

McMillan Shakespeare Limited provides salary packaging, vehicle leasing administration, fleet management, and retail financial services in Australia, the United Kingdom, and New Zealand. It operates through three segments: Group Remuneration Services, Asset Management, and Retail Financial services. The Group Remuneration Services segment offers administrative services related to salary packaging; and facilitates the settlement of motor vehicle novated leases for customers. It also provides ancillary services associated with motor vehicle novated lease products. The Asset Management segment offers financing and ancillary management services associated with motor vehicles, commercial vehicles, and equipment. The Retail Financial services segment engages in the provision of retail brokerage services, aggregation of finance originations, and extended warranty cover. The company is also involved in the software development business. It serves federal and state governments, health groups, not-for-profit organizations, and private corporations. The company was founded in 1988 and is headquartered in Melbourne, Australia.