Ramelius Resources (RMS.AX)
OPEN CLOSE CHANGE
Trading: SELL @ $0.4
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.
Ramelius Resources (ASX:RMS) opened in the upper part of daily range at 100% & closed in the middle part of the trading range at 40%. This suggests the sellers have lost commitment. Over the last 12 months there has been 1 trading days with the opening price in the upper shadow & the closing the price in the middle shadow giving a confirmation ratio of 0.4%. Over the last month there has been 1 trading days with the opening price in the upper price range & the closing the price in the middle price range giving a confirmation ratio of 20%.
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: Ramelius Resources (RMS.AX)
Stock Exchange: ASX
Company: Ramelius Resources
Ticker Codes: | RMS.AX | ASX:RMS |
Ramelius Resources Limited, together with its subsidiaries, engages in the exploration, mine development and operation, and production and sale of gold in Australia. The company holds interest in the Mt Magnet gold project located within the north-south striking Meekatharra-Mt Magnet greenstone belt of the Western Australian Murchison province; and the Vivien gold deposit located to the west of the town of Leinster in Western Australia. It also has interests in the Water Tank Hill/St George deposits in Western Australia; the Coogee gold project in Western Australia; the Kathleen Valley gold project in Western Australia; and the Tanami joint venture gold project in Northern Territory; and the exploration permit for minerals holdings in north Queensland. Ramelius Resources Limited is headquartered in East Perth, Australia.
Open vs CloseDownload
|GCY Gascoyne Resources||0.12||4.3||2,720,069||-1||BEARISH|
|DNA Donaco International||0.05||1.9||7,758,307||0||BEARISH|
|CLW Charter Hall Long Wale||4.23||1.4||1,018,079||0||BEARISH|
|BSL Bluescope Steel||12.02||1.4||2,863,114||0||BEARISH|
|GGG Greenland Minerals||0.08||1.3||1,815,802||0||BEARISH|