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: Orica (ORI.AX)
Stock Exchange: ASX
Ticker Codes: | ORI.AX | ASX:ORI |
Orica Limited engages in the manufacture and distribution of commercial explosives and blasting systems, and mining and tunneling support systems to the mining and infrastructure markets in Australia, the United States, and internationally. The company offers bulk systems, electronic blasting systems, initiating systems, packaged explosives, and blasting services to the surface and underground mining, civil tunneling, quarrying, construction, and oil and gas markets. It also offers mining chemicals comprising sodium cyanide and emulsifiers, as well as offers a range of service solutions consisting of mineral recovery, cyanide handling and use, and onsite technical support. In addition, the company provides chemical and mechanical earth control products, adhesives, and ground support equipment, including steel bolts and plates, glass fiber reinforced polymer bolts, injectable chemicals and foams, mesh, resin capsules, cementitious grouts and coatings, pumps, soil anchoring systems, ballast bonding polymers, and accessories, as well as engineering services for the underground mining, construction, tunneling, and civil engineering industries. Orica Limited was founded in 1874 and is headquartered in East Melbourne, Australia.
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