[BEARISH]: NIB sellers in control. This is the first day of seller commitment for NIB adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 73 trading days with the closing price in the lower part of the range giving a confirmation ratio of 27.8%. Over the last month there has been 7 trading days with the closing price in the lower range giving a confirmation ratio of 46.7%. Currently this quarter, closing price has spent 7 days in the lower price range compared to 4 days in the upper range giving a ratio of 1.8x.
Where the closing price fall within the day’s trading range highlights whether are in control.
[Calculations] Close Today Versus Range Today (CTRT):
1) When the closing price is near the high of the day buyers were in control at the close of the trading session;
2) When the closing price is near the low of the day sellers were in control at the close of the trading session;
3) When the closing price is near the middle of the day’s range where neither the buyers or sellers were in control at the close of the trading session;
Close Today Versus Range TodayDownload
|Company||Close||Close Change (%)||Volume||Value||Signal|
|ARA Ariadne Australia||0.71||7.6||441,553||-1||BEARISH|
|BFC Beston Global Food||0.2||5.4||194,111||-1||BEARISH|
|INM Iron Mountain||47.86||3||95,565||-1||BEARISH|
|BFG Bell Financial||0.94||2.2||282,969||-1||BEARISH|
|RVA Reva Medical||0.25||2||86,323||-1||BEARISH|
|MNS Milnes Holdings||0.37||1.4||946,843||-1||BEARISH|
|AXP Airxpanders Inc||0.09||1.2||113,655||-1||BEARISH|
|OSH Oil Search||8.66||1.1||2,930,488||-1||BEARISH|