Rib Loc (RBL.AX)
OPEN CLOSE CHANGE
Trading: SELL @ $0.96
Signal Strength: MEDIUM
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.
Rib Loc (ASX:RBL) opened in the upper part of daily range at 100% & 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 5 trading days with the opening price in the upper shadow & the closing the price in the lower shadow giving a confirmation ratio of 1.9%. Over the last month there has been 5 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 50%.
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: Rib Loc (RBL.AX)
Stock Exchange: ASX
Company: Rib Loc
Ticker Codes: | RBL.AX | ASX:RBL |
Redbubble Limited operates as an online marketplace that facilitates the sale and purchase of art and designs on a range of products between independent creatives and consumers in Australia, the United States, the United Kingdom, and internationally. It provides an Internet based marketplace platform and associated logistics services to facilitate the sale of goods from artists to those who want to purchase goods bearing the artists' designs. The company enables 600,000 independent artists to sell their designs, such as apparel, stationery, housewares, bags, wall art, etc. It offers its services through its Website at Redbubble.com and three foreign language sites. The company was founded in 2006 and is based in Melbourne, Australia.
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