Monash IVF (MVF.AX)
OPEN CLOSE CHANGE
Trading: BUY @ $1.065
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.
Monash IVF (ASX:MVF) opened in the middle part of daily range at 60% & closed in the upper part of the trading range at 80%. This suggests the buyers have taken control. Over the last 12 months there has been 3 trading days with the opening price in the middle shadow & the closing the price in the upper shadow giving a confirmation ratio of 1.1%. Over the last month there has been 3 trading days with the opening price in the middle price range & the closing the price in the upper price range giving a confirmation ratio of 17.6%.
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: Monash IVF (MVF.AX)
Stock Exchange: ASX
Company: Monash IVF
Ticker Codes: | MVF.AX | ASX:MVF |
Monash IVF Group Limited provides human fertility, assisted reproductive, and specialist women imaging services in Australia and Malaysia. It provides low intervention IVF services, fertility center services, fertility research and treatment services, tertiary level prenatal diagnostic services, and diagnostic ultrasound services. The company operates 22 fertility clinics, 17 specialist women's imaging sites, 5 service centers, 2 specialized diagnostic laboratories, and 2 day hospitals. The company was incorporated in 2014 and is based in Richmond, Australia.
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