Senex Energy (SXY.AX)
Trading: SELL @ $0.405
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.
Senex Energy (ASX:SXY) sellers are keener than buyers and are driving the price down. There has been 2 consecutive days of price decline for SXY adding strength to a downtrend in the first timeframe. The biggest downward movement this month has been -3.5 & the greatest daily negative change this year has been -58.2. The longest consecutive downswing rally over the last 12 months has been 4 days giving a total rally downward movement of -62.3%. This quarter, the largest downswing rally has been 3 days giving a total rally downward movement of -54.4%. The loss ratio for price rise in the first timeframe for the last 12 months is 0x giving a total win/loss ratio of 0.8x. Over the last month the average daily downward movement has been -1.800000%
The only price most market participants look at is the closing price in relation to the previous day’s close. As such the position of the close has the ability to highlight recent performance and indirectly the keenness of traders.
[Calculations] Close Today Versus Close Yesterday (CTCY):
1) [Close] > [Close Yesterday] = Buyers keener than sellers;
2) [Close] < [Close Yesterday] = Sellers keener than buyers;
3) [Close] = [Close Yesterday] = Neither are keener
PROFILE: Senex Energy (SXY.AX)
Stock Exchange: ASX
Company: Senex Energy
Ticker Codes: | SXY.AX | ASX:SXY |
Senex Energy Limited explores, develops, and produces oil and gas resources in Australia. It holds a portfolio of oil and gas assets in Australia's Cooper-Eromanga Basin, as well as coal seam gas tenements in Queensland's Surat Basin. The company was formerly known as Victoria Petroleum NL and changed its name to Senex Energy Limited in 2010. Senex Energy Limited is headquartered in Brisbane, Australia.
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