Spotless Holdings (SPO)

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Spotless Holdings (SPO): Signals

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TECHNICAL ANALYSIS SUMMARY

Spotless Holdings (SPO.AX)


Indicator:

ON BALANCE VOLUME


Last Signal:

BULLISH


Trading: HOLD @ $1.75
Signal Strength: MEDIUM
Recommendation:

Spotless Holdings (ASX:SPO) current price has highlighted recent accumulation. Currently, the OBV is 5924.3.


Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


On Balance Volume (OBV) attempts to measure the level of accumulation or distribution by comparing volume to price movements. Volume is added to the indicator if closing price moves up and subtracted if closing price moves down. No adjustment is made if closing price is unchanged.

Calculation: On Balance Volume:
1) If the closing price is above the prior close price then: Current OBV = Previous OBV + Current Volume;
2) If the closing price is below the prior close price then: Current OBV = Previous OBV - Current Volume;
3) If the closing prices equals the prior close price then: Current OBV = Previous OBV (no change)


PROFILE: Spotless Holdings (SPO.AX)


Stock Exchange: ASX
Company: Spotless Holdings
Ticker Codes: | SPO.AX | ASX:SPO |

About Spotless Holdings (ASX:SPO):

Spotless Group Holdings Limited provides outsourced facility, laundry and linen, technical and engineering, and maintenance and asset management services; and refrigeration solutions to various industries in Australia and New Zealand. The company operates through Facility Services and Laundry Services segments. It offers air-conditioning, mechanical, and electrical services; asset maintenance and management services; catering and hospitality services; cleaning services; facilities management services; laundry management services; sustainability services; security and electronics solutions; and utility support services. The company offers its services under the Spotless, AE Smith, Alliance, Asset Services, Clean Domain, Clean Event, Ensign, EPICURE, Nuvo group, Skilltech, Taylors, TechGuard Security, and UASG brand names. It serves business, defense, education, government, healthcare, power, public private partnerships, resources, senior living, transportation, and water markets, as well as stadias, venues, and leisure markets. Spotless Group Holdings Limited was founded in 1946 and is headquartered in Melbourne, Australia. As of August 28, 2017, Spotless Group Holdings Limited operates as a subsidiary of Downer EDI Services Pty Ltd.

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