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Trading: BUY @ $2.27
Signal Strength: STRONG
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has been constructed to highlight the existence of a trend for an assocaited timeframe. Trend determining indicators can be used in short, medium or long term timeframes & determines if the stock is trending or ranging. Once the trend status is quantified, this can then be coupled to additional indicators to add a significant advantage to the trading strategy.
Pact (ASX:PGH) is in an uptrend in the medium term timeframe. The current rally number is 33 & the highest rally count for the LTM is 33. The highest rally for the month is 11
The Tricklar medium term trend indicator (TRICK) highlights the peaks and troughs associated with a combination of bars within the first timeframe. As such, successive rallies penetrating preceding higher peaks whilst cancelling preceding low points offer a BULLISH indication in the second time frame. Conversely, failure of rallies to penetrate previous high points whilst maintaining prices below the previous low points indicates BEARISH trends in the second timeframe. The way in which multiple timeframes should be integrated in a complete analysis emphasises an important principle that applies to all technical analysis. The investor should always analyse a market from the big picture down to the level at which trading decisions are made. Trends can exist in many timeframes. Short term trends can therefore be seen together as part of a medium term trend and, in turn, medium trends can be seen together as part of a long term trend.
Calculation: Tricklar medium trend (TRICK):
1) [BULLISH] An uptrend is a succession of higher peaks and higher troughs;
2) [BEARISH] A downtrend is a succession of lower peaks and lower troughs;
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.
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