National Australia Bank (NAB.AX)
OPEN CLOSE CHANGE
Trading: NO POSITION @ $24.22
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.
National Australia Bank (ASX:NAB) opened in the middle part of daily range at 56.3% & closed in the middle part of the trading range at 56.3%. This suggests that neither side is committed. Over the last 12 months there has been 2 trading days with the opening price in the middle shadow & the closing the price in the middle shadow giving a confirmation ratio of 0.8%. Over the last month there has been 2 trading days with the opening price in the middle price range & the closing the price in the middle price range giving a confirmation ratio of 18.2%.
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: National Australia Bank (NAB.AX)
Stock Exchange: ASX
Company: National Australia Bank
Ticker Codes: | NAB.AX | ASX:NAB |
National Australia Bank Limited provides financial services to individuals and businesses in Australia, New Zealand, Asia, the United States, and the United Kingdom. It operates through Consumer Banking and Wealth, Business and Private Banking, Corporate and Institutional Banking, and NZ Banking segments. The company accepts transaction accounts, savings accounts, term deposits, and deposit accounts; and specialized accounts, such as foreign currency, business interest, statutory trust, community free saver, and farm management accounts. It also provides home loans; personal loans; agribusiness loans; business market and option loans; equipment and vehicle loans; short term loans for micro enterprises; and debtor, invoice, and trade finance, as well as business overdrafts. In addition, the company offers insurance products consisting of car, home and content, landlord, travel, credit card, personal loan, home loan, caravan and trailer, and life insurance; and superannuation, self-managed super funds, and financial planning and advisory services; and travel services, as well as investment products. Further, it provides credit, debit, and business cards; payments and merchant services; online banking services; small business services; and international and foreign exchange solutions. As of September 30, 2017, the company operated through a network of 796 branches and business banking centers, and 2,934 ATMs. National Australia Bank Limited was founded in 1834 and is based in Docklands, Australia.
Open vs CloseDownload
|SAR Saracen Mineral||3.22||3.2||4,798,475||0||BEARISH|
|KSL Kina Securities||1.05||2.9||114,325||0||BEARISH|
|SWM Seven West Media||0.57||1.8||3,545,166||0||BEARISH|
|WHC Whitehaven Coal||4.55||1.8||9,257,864||-1||BEARISH|
|JBH Jb Hi-Fi||23.5||1.7||1,040,536||-1||BEARISH|