[BEARISH]: My Net Fone has formed a new Bear Belt-Hold reversal pattern.
Bearish Belt Hold is a single candlestick pattern basically a Black Opening Marubozu that occurs in an uptrend. It opens on the high of the day and then prices begin to fall during the day against the overall trend of the market which eventually stops with a close near the low leaving a small shadow at the bottom of the candle. If longer bodies characterize the Belt Hold then the resistance they offer against the trend will be even much stronger.
Calculation: Bear Belt-Hold Candlestick Pattern:
1) The market is characterized by a prevailing uptrend;
2) The market gaps up and opens at its high and closes near to the low of the day;
3) A long black body that has no upper shadow (a Black Opening Marubozu) is observed;
PROFILE: My Net Fone (MNF.AX)
Stock Exchange: ASX
Company: My Net Fone
Ticker Codes: | MNF.AX | ASX:MNF |
MNF Group Limited provides voice, data, and cloud based communication and communication enablement services to residential, business, government, and wholesale customers in Australia and internationally. It operates through three segments: Australian Domestic Retail; Australia/New Zealand Domestic Wholesale; and Global Wholesale. The company's products include MyNetFone that provides voice and Internet services; Symbio Networks, which offers IP voice carriage services and software through in-country voice infrastructure and platforms; Connexus corporate connectivity and cloud services; and CallStream that provides inbound business phone numbers. The company's products also iBoss, a software-as-a-service platform, which enables anyone to start and scale their own telecommunications business; TollShield, a real-time toll fraud mitigation software for networks and carriers; Pennytel, a VoIP home phone and ADSL Internet service provider; The Buzz, a money-saving budget home phone for PSTN customers; and OpenCA Softswitch delivers converged voice, data, and multi-media services for carriers and enterprises. It is also involved in the sale of audio conferencing and collaboration services to business customers; and the provision of hardware, equipment, and consulting services to support its products. The company was formerly known as My Net Fone Limited and changed its name to MNF Group Limited in October 2015. The company was founded in 2004 and is headquartered in Sydney, Australia.
|ALK Alkane Exploration||0.25||16.3||17,581,642||1||BULLISH|
|YAL Yancoal Australia||0.13||4.2||404,169||1||BULLISH|
|SIV Silver Chef||1.88||3.9||42,842||1||BULLISH|
|GCS Global Construction Services||0.64||3.2||258,515||1||BULLISH|
|EHE Estia Health||2.47||2.9||3,916,609||1||BULLISH|
|WAF West African Resources||0.3||1.7||747,562||1||BULLISH|
|CUV Clinuvel Pharmaceuticals||18.49||1.3||68,842||1||BULLISH|
|EVT Event Hospitality And Entertainment||14.77||1.1||50,836||1||BULLISH|