Tabcorp Holdings (TAH.AX)
COMMOIDITY CHANNEL INDEX
Trading: SELL @ $4.28
Signal Strength: MEDIUM
Tabcorp Holdings (ASX:TAH) current trading has maintained the Commodity Channel Index to overbought status and signalled the continuation of the bearish trading conditions. Currently, the CCI is -72. The bearish signal has been active for 127 days. During the quarter, the highest CCI value was 31.
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading exit. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.
The Commodity Channel Index indicator takes a security’s change in price and compares that to its average change in price. CCIs calculation produces positive and negative values that oscillate above and below a Zero Line. Typically a value of 100 is identified as overbought and a reading of -100 is identified as being oversold.
Calculation: 20 Period CCI:
1) CCI = (Typical Price - 20 Period SMA of TP) / (.015 x Mean Deviation);
2) Typical Price (TP) = (High + Low + Close)/3;
PROFILE: Tabcorp Holdings (TAH.AX)
Stock Exchange: ASX
Company: Tabcorp Holdings
Ticker Codes: | TAH.AX | ASX:TAH |
Tabcorp Holdings Limited, together with its subsidiaries, provides gambling and entertainment services in Australia. It operates through three segments: Wagering and Media, Keno, and Gaming Services. The Wagering and Media segment conducts wagering activities under the TAB brand in Victoria, New South Wales (NSW), and the Australian Capital Territory (ACT) through a network of agencies, hotels, and clubs; provides on-course totalizators at thoroughbred, harness, and greyhound metropolitan and race meetings, as well as through Internet, mobile devices, phone, and pay TV; and offers totalizator and fixed odds betting products on racing and sporting events. This segment also operates Luxbet, a racing, sport, and novelty product bookmaking service by phone, Internet, and mobile devices; and Trackside, a computer simulated racing product in Victoria, NSW, and the ACT, as well as licenses Trackside. In addition, it operates three Sky Racing television channels broadcasting thoroughbred, harness and greyhound racing, and other sports; and Sky Sports radio network in NSW and the ACT. The Keno segment operates licensed venues and TABs in Victoria, Queensland, the ACT, and NSW. The Gaming Services segment supplies electronic gaming machines and gaming systems, as well as offers specialized services to licensed gaming venues, including monitoring services. Tabcorp Holdings Limited was founded in 1994 and is based in Melbourne, Australia.
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