Super Cheap Auto (SUL.AX)
OPEN CLOSE CHANGE
Trading: SELL @ $8.26
Signal Strength: WEAK
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.
Super Cheap Auto (ASX:SUL) opened in the upper part of daily range at 93.3% & closed in the middle part of the trading range at 66.7%. This suggests the sellers have lost commitment. Over the last 12 months there has been 2 trading days with the opening price in the upper shadow & the closing the price in the middle shadow giving a confirmation ratio of 0.8%. Over the last month there has been 2 trading days with the opening price in the upper price range & the closing the price in the middle price range giving a confirmation ratio of 14.3%.
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: Super Cheap Auto (SUL.AX)
Stock Exchange: ASX
Company: Super Cheap Auto
Ticker Codes: | SUL.AX | ASX:SUL |
Super Retail Group Limited operates as a retailer of auto, leisure, and sports products in Australia, New Zealand, and China. The company offers automotive parts and accessories, handyman items, and tools and equipment to marine and motorbike products, including batteries, car care products, exterior and interior accessories, hand and power tools, in-car navigation systems and stereo equipment, lighting and electrical products, outdoor equipment and accessories, seat covers, spare parts, paints and panels, and performance products, as well as oils, filters, and additives. It also provides footwear, apparel, games and leisure products, gym equipment, and fan merchandise; and boating, camping, and fishing products, such as lures, various rods and reels, tackle boxes, fishing nets, tents, ropes, pegs, cooking equipment, and clothing and hiking gears, as well as boating accessories. In addition, the company offers cycling bikes and accessories; outdoor entertainment and camping leisure products comprising camping gears, tents, outdoor furniture, BBQs, kayaks, and footwear and work wear; and sports equipment and associated accessories. Further, it provides fitness equipment consisting of treadmills, home gyms, exercise bikes, fitness accessories, elliptical cross trainers, free weights, boxing equipment, nutritional supplements, and rowers, as well as home fitness studios for use in home, corporate, and commercial markets. The company sells its products under the Amart Sports, Avanti Fitness, Rebel Sport, BCF, Goldcross Cycles, Ray's Outdoors, Supercheap Auto, and Workout World brands. It operates 632 stores. The company was formerly known as Super Cheap Auto Group Limited and changed its name to Super Retail Group Limited in 2010. Super Retail Group Limited was founded in 1972 and is based in Lawnton, Australia.
Open vs CloseDownload
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