Trading: BUY @ $3.04
Signal Strength: STRONG
Indicator is best used in conjunction with additional indicators as it has the ability to highlight potential overbought or oversold levels. This indicator utilizes upper and lower bands to visually represent price extremes associated with the bands. Additional value can be added to the trading strategy by accessing divergences between price and volume.
Nanosonics (ASX:NAN) is currently Oversold highlighting the potential for a short term trend reversal in the upward direction.
In technical analysis of securities trading the stochastic oscillator is a momentum indicator that uses support and resistance levels. Dr George Lane developed this indicator in the late 1950s. The term stochastic refers to the point of a current price in relation to its price range over a period of time. This method attempts to predict price turning points by comparing the closing price of a security to its price range.
Calculation: Stochastic Oscillator:
1) %K = (Current Close - Lowest Low)/(Highest High - Lowest Low) * 100;
2) %D = 3-day SMA of %K Lowest Low = lowest low for the look-back period Highest High = highest high for the look-back period %K is multiplied by 100 to move the decimal point two places;
PROFILE: Nanosonics (NAN.AX)
Stock Exchange: ASX
Ticker Codes: | NAN.AX | ASX:NAN |
Nanosonics Limited, together with its subsidiaries, engages in the research, development, and commercialization of infection control and decontamination products and related technologies. The company manufactures and distributes the trophon EPR ultrasound probe disinfector and its associated consumables and accessories for use in the treatment of healthcare acquired infections. It also offers trophon consumables, such as Sonex/Nanonebulant, a proprietary disinfectant liquid with hydrogen peroxide chemistry; chemical indicators; and trophon printer rolls. The company also provides trophon accessories, including trophon connect, trophon Printer, trophon Logbook, trophon wall mount and trophon Cart, trophon printer wall mount, trophon printer cart mount, trophon curved probe positioner, and trophon clean ultrasound probe covers. It operates in North America, Europe, and the Asia Pacific. Nanosonics Limited was incorporated in 2000 and is headquartered in Lane Cove, Australia.
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