Saracen Mineral (SAR.AX)
Trading: SELL @ $2.5
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.
Saracen Mineral (ASX:SAR) sellers are increasingly eager. This is the first day sellers have increasing eagerness for SAR adding strength to a downtrend in the first timeframe. The biggest price range this month has been $0.2250 & the greatest daily price range this year has been $1.2250. The price range ratio this week versus the quarterly price range is 0.6x & the price range ratio this month versus the year to date price range is 0.2x.
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: Saracen Mineral (SAR.AX)
Stock Exchange: ASX
Company: Saracen Mineral
Ticker Codes: | SAR.AX | ASX:SAR |
Saracen Mineral Holdings Limited engages in the gold mining business in Australia. It also explores for nickel deposits. The company holds 100% interest in the Carosue Dam operations located in north-east of Kalgoorlie, Western Australia. It also holds interests in Thunderbox operations located in the Yandal belt and the Agnew-Wiluna belt in the North Eastern Goldfields of Western Australia. Saracen Mineral Holdings Limited is headquartered in Perth, Australia.
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