Select Harvests (SHV.AX)
WHITE SPINNING TOP
Trading: HOLD @ $6.12
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading position. 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 Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
Select Harvests (ASX:SHV) has formed a White Spinning Top candlestick. This means, SHV has opened and closed within a small range with a upper and lower shadow that is longer than the body of the candle. This has similar traits to that of a doji candle highlighting the supply and demand indecision Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.
This candlestick has a tiny white body with upper and lower shadows that have a greater length than the body. It is accepted as a type of Doji and will act as a Doji when it appears.
Calculation: White Spinning Top Candlestick:
1) The body of the candlestick is white and very small;
2) The upper and lower shadows are longer than the body;
PROFILE: Select Harvests (SHV.AX)
Stock Exchange: ASX
Company: Select Harvests
Ticker Codes: | SHV.AX | ASX:SHV |
Select Harvests Limited engages in the processing, packaging, marketing, and distribution of edible nuts, dried fruits, seeds, and a range of natural health foods in Australia. The company operates through Food Division and Almond Division segments. It also grows, processes, and sells almonds to the food industry from company owned almond orchards, as well as offers health snacks and muesli. The company has a portfolio of approximately 4,000 hectares of company owned, leased, and joint ventured almond orchards. In addition, it provides management services to external owners of almond orchards, including orchard development, tree supply, farm management, and land and irrigation infrastructure rental services; and markets and sells almonds on behalf of external investors. The company also exports its products to India and China, as well as rest of Asia, Europe, and the Middle East. It provides its products to retailers, distributors, and industrial users under the Lucky, Sunsol, NuVitality, and Soland brands in the retail markets, as well as Renshaw and Allinga Farms brands in the wholesale and industrial markets. The company is headquartered in Thomastown, Australia.
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