Reece Australia (REH.AX)
Trading: SELL @ $10.55
Signal Strength: WEAK
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.
Reece Australia (ASX:REH) sellers are increasingly eager. This is the first day sellers have increasing eagerness for REH adding strength to a downtrend in the first timeframe. The biggest price range this month has been $1.0000 & the greatest daily price range this year has been $3.4500. The price range ratio this week versus the quarterly price range is 0.5x & the price range ratio this month versus the year to date price range is 0.3x.
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: Reece Australia (REH.AX)
Stock Exchange: ASX
Company: Reece Australia
Ticker Codes: | REH.AX | ASX:REH |
Reece Limited engages in importing, wholesaling, distribution, marketing, and retailing plumbing, bathroom, heating, ventilation, air-conditioning, and refrigeration products in Australia and New Zealand. The company offers bathroom products, including accessories and homewares, basins, baths and spas, exhaust fans, heated towel rails, showers, tapwares, toilets and bidets, underfloor heating, vanity units/bathroom furniture, and wastes; laundry tapwares and troughs; sink tapwares, sinks, sink accessories, and kitchen appliances; and commercial products. It also provides hot water systems, pipes and fittings, tools, hardware and building construction products, heating and cooling products, water filtration products, water tanks, pumps, valves, fire products, and roofing products. In addition, the company offers irrigation products, such as sprinklers, solenoid valves and boxes, and irrigation control products; civil products comprising pits and shafts and test plugs; onsite products; and HVAC-R products, including refrigeration and heating and cooling products. It serves customers in the trade, retail, professional, and commercial markets through its approximately 450 stores. The company was formerly known as Reece Australia Limited and changed its name to Reece Limited in November 2015. Reece Limited was founded in 1919 and is based in Burwood, Australia.
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