Trading: HOLD @ $4.43
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.
Orocobre (ASX:ORE) sellers are becoming less eager. There has been 2 consecutive days of range increase for ORE reducing strength to an uptrend in the first timeframe. The biggest price range this month has been $1.7300 & the greatest daily price range this year has been $4.2800. The price range ratio this week versus the quarterly price range is 0.4x & the price range ratio this month versus the year to date price range is 0.4x.
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