Southern Cross Media (SXL.AX)
Trading: SELL @ $1.02
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.
Southern Cross Media (ASX:SXL) sellers are increasingly eager. This is the first day sellers have increasing eagerness for SXL adding strength to a downtrend in the first timeframe. The biggest price range this month has been $0.1150 & the greatest daily price range this year has been $0.4450. The price range ratio this week versus the quarterly price range is 1x & the price range ratio this month versus the year to date price range is 0.3x.
The range of the bar gives important information about the strength of weakness of a trend. If buyers are very committed they will be keen to buy and will tend to bid the price up even in the face of some selling pressure. Price will quickly & easily move upward and the move will tend to be significant. As such expanding ranges indicate the either buyers or sellers becoming more committed. Alternatively once the range begins to contract the side in control are losing commitment.
Calculation: Range Today Versus Range Yesterday (RTRY):
1) Expanding ranges on the upside indicates that buyers are increasingly eager;
2) Expanding ranges on the downside indicates that sellers are increasingly eager;
3) Contracting ranges on the upside indicates that buyers are becoming less eager;
4) Contracting ranges on the downside indicates that sellers are becoming less eager;
PROFILE: Southern Cross Media (SXL.AX)
Stock Exchange: ASX
Company: Southern Cross Media
Ticker Codes: | SXL.AX | ASX:SXL |
Southern Cross Media Group Limited engages in the creation and broadcasting of content on free to air commercial radio, TV, and online media platforms in Australia. The company owns 140 radio stations across 68 markets; and owns 19 regional free to air television licenses that cover 30 regional sub markets. It provides online advertising and integration through approximately 85 Websites; and develops microsites, mobile apps, online videos, and social media campaigns for clients. The company was formerly known as Macquarie Media Group. Southern Cross Media Group Limited is based in South Melbourne, Australia.
|MPP Metro Performance Glass||0.5||11.1||6,500||0||NEUTRAL|
|FRI Finbar International||0.82||9.3||29,707||0||NEUTRAL|
|ANG Austin Engineering||0.22||4.8||1,029,374||0||NEUTRAL|
|EQT Equity Trustees||24||4.3||34,589||0||NEUTRAL|
|SHJ Shine Corporate||0.73||4.3||5,271||0||NEUTRAL|
|DXS Dexus Property||11.07||2.9||3,331,837||0||NEUTRAL|