Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Elder Ray Index

Score

-1.45

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 20 29.8 0.30% 0.38% 4.4% -9.9% -132.8%
SHORT 20 9.8 0.45% 0.75% 5.9% -5.6% -14.4%

Summary

Technical Analysis

Thorn (TGA.AX)


Indicator:

ELDER RAY INDEX


Last Signal:

BEARISH


Trading: SELL @ $0.27
Signal Strength: MEDIUM
Recommendation:

Volatility indicators highlight potential moves of a stock which can either move sharply in the updwards or downwards direction. This indicator allows stocks to be compared on a level playing field to highlight high and low volatility. Normally, falling markets are more likely to be volatile than a rising markets due to the emotion that gets tied to trading. Use volatility indicators in conjunction with other indicators to reduce exposure to false moves.


Thorn (ASX:TGA) Elder Ray Index is signalling a Bearish movement



A technical indicator developed by Alexander Elder that measures the amount of buying and selling pressure in the market. This indicator consists of two separate indicators known as bull power and bear power. These figures allow a trader to determine the position of the price relative to a certain exponential moving average (EMA).

Calculation: Elder Ray Index (ERI):
1) Bull Power = Daily High - n-period EMA;
2) Bear Power = Daily Low - n-period EMA;


PROFILE: Thorn (TGA.AX)


Stock Exchange: ASX
Company: Thorn
Ticker Codes: | TGA.AX | ASX:TGA |

About Thorn (ASX:TGA):

Thorn Group Limited, together with its subsidiaries, provides a range of financial solutions to consumers and businesses in Australia. It is involved in the leasing of household products to consumers; and provision of leasing and other financial services to small and medium size enterprises under the Radio Rentals name. The company also engages in the provision of loans, commercial finance, and receivables management services. Thorn Group Limited was founded in 1937 and is based in Chullora, Australia.

Top 10:

Elder Ray Index

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Company Close Change(%) Volume Value Signal
DCN Dacian Gold 0.95 22.6 7,221,770 -0.01 BEARISH
RFG Retail Food 0.21 13.9 602,168 -0.01 BEARISH
CGS Cogstate 0.22 10 8,100 -0.01 BEARISH
EWC Energy World Corporation 0.1 9.2 682,001 -0.01 BEARISH
PRU Perseus Mining 0.77 8.5 17,484,605 -0.01 BEARISH
RMS Ramelius Resources 0.86 8.2 7,633,542 -0.03 BEARISH
CCV Cash Converters International 0.16 6.7 696,944 -0.08 BEARISH
BPT Beach Petroleum 2 5.3 9,549,948 -0.18 BEARISH
CUV Clinuvel Pharmaceuticals 32.81 5.2 256,141 0 BEARISH
PRT Prime Television 0.23 4.5 173,226 -0.02 BEARISH