Sealink Travel (SLK.AX)
OPEN CLOSE CHANGE
Trading: SELL @ $4.1
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.
Sealink Travel (ASX:SLK) 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 3 trading days with the opening price in the upper shadow & the closing the price in the lower shadow giving a confirmation ratio of 1.1%. Over the last month there has been 3 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 23.1%.
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: Sealink Travel (SLK.AX)
Stock Exchange: ASX
Company: Sealink Travel
Ticker Codes: | SLK.AX | ASX:SLK |
SeaLink Travel Group Limited operates as a tourism and transport company in Australia. It operates through Kangaroo Island Sealink, Captain Cook Cruises, and Sealink Queensland segments. The company provides passenger and freight ferry services between Cape Jervis and Kangaroo Island in South Australia; tourist cruises and other charter cruises on Sydney Harbour in New South Wales under the Captain Cook Cruises brand, as well as regular ferry passenger services; Murray river cruising aboard services in South Australia; and passenger ferry services between Townsville, and Magnetic Island and Palm Island in Queensland, as well as between Darwin and Mandorah, and Darwin and Tiwi Islands. It also offers travel agency services in Adelaide and Sydney; coach tours in South Australia and Kangaroo Island; and packaging holidays in Australia, as well as operates accommodation and restaurant facilities at Vivonne Bay Lodge on Kangaroo Island. The company was formerly known as TravelLink Limited and changed its name to SeaLink Travel Group Limited in September 2008. SeaLink Travel Group Limited was founded in 1989 and is headquartered in Adelaide, Australia.
Open vs CloseDownload
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