New Hope (NHC.AX)
Trading: SELL @ $3.55
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading position. 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 Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
New Hope (ASX:NHC) has formed a Black candlestick. Normal selling pressure highlighting sellers were in control.
This candlestick implies normal selling pressure and shows that prices declined during the day from open to close and the sellers were in control.
Calculation: Black Candlestick Pattern:
1) The body of the candlestick is black with normal length;
PROFILE: New Hope (NHC.AX)
Stock Exchange: ASX
Company: New Hope
Ticker Codes: | NHC.AX | ASX:NHC |
New Hope Corporation Limited explores, develops, produces, and processes coal, and oil and gas in Japan, Taiwan, China, Chile, Korea, and Australia. It operates through three segments: Coal Mining in Queensland, Coal mining in New South Wales, and Oil and Gas. The company has interests in two open cut coal mines in South East Queensland that produce thermal coal, including the New Acland project, which is located in north-west of Oakey, Queensland; and the Jeebropilly coal mine located in the West Moreton region near Ipswich. It also holds interests in oil projects and exploration permits based in the Eromanga Basin of south west Queensland; and onshore exploration permits in the Otway Basin of south western Victoria. In addition, the company is involved in the marketing and logistics activities; and port operation and agriculture activities. The company was founded in 1952 and is based in Brookwater, Australia. New Hope Corporation Limited is a subsidiary of Washington H. Soul Pattinson and Company Limited.
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