Southern Cross Media (SXL.AX)
Trading: BUY @ $1.115
Signal Strength: STRONG
Indicator CAN 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.
Southern Cross Media (ASX:SXL) has formed a new Bull Harami reversal pattern.
This pattern consists of a black body and a small white body that is completely inside the range of the black body. If an outline is drawn for the pattern it looks like a pregnant woman. This is not a coincidence. “Harami” is an old Japanese word for “pregnant”. The black candlestick is “the mother” and the small candlestick is “the baby”.
Calculation: Bull Harami Candlestick Pattern:
1) The market is characterized by a prevailing downtrend;
2) A black body is observed on the first day;
3) The white body that is formed on the second day is completely engulfed by the body of the first day;
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.
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