[NEUTRAL]: No price change for Prime Television. This is the first day of no daily price range for PRT highlighting the lack of enthusiasm for either buying or selling in the first timeframe. Over the last 12 months there have been 2 days of no price range giving a ratio of 0x. Over the last month there have been 2 days of no price range giving a ratio of 0.1x.
The range of the bar gives important information about the strength of weakness of a trend. If buyers are very committed they will be keen to buy and will tend to bid the price up even in the face of some selling pressure. Price will quickly & easily move upward and the move will tend to be significant. As such expanding ranges indicate the either buyers or sellers becoming more committed. Alternatively once the range begins to contract the side in control are losing commitment.
Calculation: Range Today Versus Range Yesterday (RTRY):
1) Expanding ranges on the upside indicates that buyers are increasingly eager;
2) Expanding ranges on the downside indicates that sellers are increasingly eager;
3) Contracting ranges on the upside indicates that buyers are becoming less eager;
4) Contracting ranges on the downside indicates that sellers are becoming less eager;
PROFILE: Prime Television (PRT.AX)
Stock Exchange: ASX
Company: Prime Television
Ticker Codes: | PRT.AX | ASX:PRT |
Prime Media Group Limited provides commercial television broadcasting services in Australia. The company offers free-to-air television broadcasting services under the PRIME7 and GWN7 brands in the regional New South Wales, the Australian Capital Territory, regional Victoria, the Gold Coast area of Southern Queensland, and regional Western Australia. Prime Media Group Limited is based in Watson, Australia.
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