Southern Cross Media (SXL.AX)
Trading: SELL @ $1.005
Signal Strength: MEDIUM
Indicator can be used in isolation but is strengthened by additional indicator confirmation. Indicator can be applied to the short or medium term timeframe and is able to highlight a potential change in price direction. This bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.
Southern Cross Media (ASX:SXL) A short term Pivot Reversal has formed with Southern Cross Media which confirms the presence of a bearish bar reversal. Over the last 12 months there have been 1 occurrences of this bar reversal giving a signal probability of 0.4%.
The pivot reversal is the only reversal signal that is present at all market turns. Many analysts use the pivot points as an entry or exit signal. The power of the pivot point is similar to the Island Reversal in that every trader who opened a position on the day made the extreme high or low is now losing and will scramble to get out.
Calculation: Pivot Reversal (PIVOT):
1) Uptrend: High is higher than the high of the bars either side of its Last day closes below the low of the day with the highest high;
2) Downtrend: Low is lower than the bars either side of it Last day closes above the high of the day with the lowest low;
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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