[WEAK BULLISH]: Maxitra Industries sellers are becoming less eager. This is the first day sellers have decreased eagerness for MXI reducing strength to a downtrend in the first timeframe. The biggest price range this month has been $0.0600 & the greatest daily price range this year has been $0.4150. The price range ratio this week versus the quarterly price range is 0.7x & the price range ratio this month versus the year to date price range is 0.1x.
The range of the bar gives important information about the strength of weakness of a trend. If buyers are very committed they will be keen to buy and will tend to bid the price up even in the face of some selling pressure. Price will quickly & easily move upward and the move will tend to be significant. As such expanding ranges indicate the either buyers or sellers becoming more committed. Alternatively once the range begins to contract the side in control are losing commitment.
Calculation: Range Today Versus Range Yesterday (RTRY):
1) Expanding ranges on the upside indicates that buyers are increasingly eager;
2) Expanding ranges on the downside indicates that sellers are increasingly eager;
3) Contracting ranges on the upside indicates that buyers are becoming less eager;
4) Contracting ranges on the downside indicates that sellers are becoming less eager;
PROFILE: Maxitra Industries (MXI.AX)
Stock Exchange: ASX
Company: Maxitra Industries
Ticker Codes: | MXI.AX | ASX:MXI |
MaxiTRANS Industries Limited, together with its subsidiaries, designs, manufactures, sells, services, and repairs transport equipment, and related components and spare parts in Australia and New Zealand. It manufactures trailer brands, and urethane foam and body panels; supplies and distributes parts; provides service and repair support; and sells and finances new and used trailing equipment. The company's products include curtain sided trailers, flat top semis, and skeletal trailers; dry freight and temperature controlled vans; steel and aluminum semi tippers, B-doubles, side opening tippers, walking floors, and flat top trailers, as well as specialty units; and bowl door tippers, flex tippers, and high volume side tippers. It also provides temperature controlled (refrigerated) and dry freight rigid truck bodies; trailing transport equipment and solutions, such as lights, tools, oil and filters, axles, suspensions, and brakes; various components and consumables; and fiberglass panels, body kits, doors, and insulation foam products. In addition, the company is involved in the retail and wholesale of trailer and truck parts; and rental and hire of temperature controlled vans. MaxiTRANS Industries Limited sells its products under the Freighter, Maxi-CUBE, Hamelex White, Lusty EMS, AZMEB, Peki, TraileRentals, MaxiPARTS, Maxus, and PANELMasta brand names. It serves transport and logistics, fresh produce, food and beverage, building and construction, agriculture, and natural resources industries. The company was founded in 1946 and is headquartered in Derrimut, Australia.
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