Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Cole's Reaction Day

Score

-0.6

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 25 24.2 0.40% 0.67% 5.0% -6.9% -53.7%
SHORT 25 6.7 0.52% 0.87% 2.5% -2.0% 2.6%

Summary

Technical Analysis

Somnomed (SOM.AX)


Indicator:

COLES RALLY/REACTION DAY


Last Signal:

NEUTRAL


Trading: HOLD @ $1.69
Signal Strength: MEDIUM
Recommendation:

Volatility indicators highlight potential moves of a stock which can either move sharply in the updwards or downwards direction. This indicator allows stocks to be compared on a level playing field to highlight high and low volatility. Normally, falling markets are more likely to be volatile than a rising markets due to the emotion that gets tied to trading. Use volatility indicators in conjunction with other indicators to reduce exposure to false moves.


Somnomed (ASX:SOM)


Roger Cole devised a method to use rally and reaction days. Cole disregarded inside and outside days to find three rally days in a row or three reactions in a row. This is like three soldiers or three crows in candlestick pattern analysis, except Cole allowed for inside or outside days to intervene. Three soldiers and three crows, while rare, are extremely reliable. So Cole gave us some relief from a strict definition, but traded off increased frequency at the expense of reliability. Cole also used moving average crossovers to augment the two-day (rally, reaction, inside, outside day) results.

Calculation: Coles Reaction Day:
1) Rally Day: High > High yesterday & Low > Low yesterday;
2) Reaction Day: High > High yesterday & Low < Low yesterday


PROFILE: Somnomed (SOM.AX)


Stock Exchange: ASX
Company: Somnomed
Ticker Codes: | SOM.AX | ASX:SOM |

About Somnomed (ASX:SOM):

SomnoMed Limited, together with its subsidiaries, produces and sells devices for the oral treatment of sleep related disorders in Australia and internationally. Its products include SomnoDent oral appliance for obstructive sleep apnea; and SomnoBrux, a mouthguard, which protects patient's from teeth grinding damage, as well as SomTabs for cleaning its devices. The company was founded in 2004 and is based in Crows Nest, Australia.

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