RATE OF CHANGE
Trading: SELL @ $3.15
Signal Strength: MEDIUM
Orora (ASX:ORA) currently has negative rate of change of -3.374%. This means the current price is less than the price 14 days ago and therefore losing momentum.
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has the ability to detect the speed of movement & give an early signal for a potential movement. By understanding the rate at which the price is moving in respect to the stocks historical trades, enables positions to be set in place based on changes in the speed of movement
Rate of Change (ROC) is a refinement of Momentum - readings fluctuate as percentages around the zero line. The indicator is designed for use in ranging markets - to detect trend weakness and likely reversal points. However when combined with a trend indicator it can be used in trending markets.
Calculation: Rate of Change (ROC):
1) (Closing Price [today] - Closing Price [n days ago]) / Closing Price [n days ago] * 100
PROFILE: Orora (ORA.AX)
Stock Exchange: ASX
Ticker Codes: | ORA.AX | ASX:ORA |
Orora Limited manufactures and supplies packaging products and services to the grocery, fast moving consumer goods, and industrial markets in Australia, New Zealand, the United States, and internationally. The company offers glass bottles, aluminum cans, closures and caps, boxes and cartons, point-of-purchase displays, recycled paper, rigid and flexible packaging, bags and sacks, general packaging, and supplies. It also purchases, warehouses, sells, and delivers a range of packaging and related materials; and sells equipment; and point of purchase retail display solutions and other visual communication services. In addition, the company provides printing and signage, research and technology, product sourcing, automation and engineering, packaging design, kitting and fulfilment, logistics, and digital technology services. Orora Limited was founded in 2013 and is headquartered in Hawthorn, Australia.
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