WHITE CLOSING MARUBOZU
Trading: BUY @ $3.51
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.
Servcorp (ASX:SRV) has formed a White Closing Marubozu candlestick. This means, SRV has received strong buying confidence and upward price movement over the trading day with only a small lower shadow present. Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.
This candlestick represents extreme bullishness and it is characterized with a long white body that has a lower shadow but no upper shadow.
Calculation: White Closing Marubozu Candlestick:
1) The body of the candlestick is white and long;
2) There is no upper shadow;
PROFILE: Servcorp (SRV.AX)
Stock Exchange: ASX
Ticker Codes: | SRV.AX | ASX:SRV |
Servcorp Limited provides executive serviced and virtual offices; and IT, communications, and secretarial services. Its serviced offices include furnished CBD office suites with a receptionist, meeting rooms, IT infrastructure, and support services; and virtual offices provide services, facilities, and IT to businesses. The company operates in Australia, New Zealand, Southeast Asia, the United States, Europe, the Middle East, North Asia, and internationally. Servcorp Limited was founded in 1978 and is headquartered in Sydney, Australia.
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