[BEARISH STRONG]: Pact opened in the upper part of daily range at 83.3% & closed in the lower part of the trading range at 0%. This suggests the sellers were in control all day. Over the last 12 months there has been 52 trading days with the opening price in the upper shadow & the closing the price in the lower shadow giving a confirmation ratio of 19.8%. Over the last month there has been 4 trading days with the opening price in the lower upper range & the closing the price in the lower price range giving a confirmation ratio of 36.4%.
The opening and closing bar positions can add depth to assess whether buyers of sellers commitment is changing and thus which side is in control at the close of the trading session.
Calculation: Open Today Versus Close Today (OTCT):
1) If the market opens near the low and closes near the high the buyers have had control during the entire day;
2) If the market opens near the high and closes near the low the sellers have had control during the entire day;
3) If the market opens near one extreme of the range and closes near the middle of the range the side who started in control has lost commitment;
4) If the market opens near one extreme and closes near the same extreme the side who started in control has lost control;
5) If the market opens near the middle of the range and closes near one extreme control has swung to the buyers;
6) If the close is near the high and if the close is near the low the control has swung to the sellers;
7) If the market opens near the middle of the range and closes similarly neither side is strongly committed;
PROFILE: Pact (PGH.AX)
Stock Exchange: ASX
Ticker Codes: | PGH.AX | ASX:PGH |
Pact Group Holdings Ltd manufactures and supplies rigid plastics and metal packaging in Australia, New Zealand, China, the Philippines, Singapore, Indonesia, Thailand, and the United States. The company operates in two segments, Pact Australia and Pact International. It primarily converts plastic resin and steel into rigid packaging and other products for customers in the food and beverage, personal care, household consumer, industrial and chemical, materials handling, infrastructure, agricultural, and other sectors. The company's products comprise yoghurt containers, cream and ice-cream containers, milk and beverage bottles, margarine tubs, food jars, meat and bakery trays, cubes, pails, tubes and cartridges, bottle caps and closures, and other customized packaging; steel drums, tinplate pails, and other metal containers; and plastic material handling, industrial, and technical products, as well as sustainability products and services. In addition, it offers materials handling solutions and associated services; contract manufacturing services for pharmaceutical and aerosol based products; recycling services; and crate pooling and hire services. Pact Group Holdings Ltd was founded in 2002 and is headquartered in Richmond, Australia.
|Company||Close||Close Change (%)||Volume||Value||Signal|
|SAS Sky And Space Global||0.06||1.6||749,231||1||BEARISH|
|CAB Cabcharge Australia||2.33||0.9||54,357||-1||BEARISH|
|VRT Virtus Health||5.5||0.7||60,851||-1||BEARISH|
|CCL Coca-Cola Amatil||9.48||0.4||1,663,962||1||BEARISH|
|KDR Kidman Resources||1.19||0.4||3,891,499||1||BEARISH|
|LEP Ale Property||5.3||0.4||33,396||1||BEARISH|