[BULLISH]: Tower has a medium timeframe uptrend confirmation. This was confirmed through a price breakout on the Sep 4 2018.
The Tricklar long term trend indicator (T3) highlights the peaks and troughs associated with a combination of peaks and troughs contained within the third timeframe. As such, successive rallies penetrating preceding higher peaks whilst cancelling preceding low points offer a BULLISH indication in the third time frame. Conversely, failure of rallies to penetrate previous high points whilst maintaining prices below the previous low points indicates BEARISH trends in the third timeframe. The way in which multiple timeframes should be integrated in a complete analysis emphasises an important principle that applies to all technical analysis. The investor should always analyse a market from the big picture down to the level at which trading decisions are made. Trends can exist in many timeframes. Short term trends can therefore be seen together as part of a medium term trend and, in turn, medium trends can be seen together as part of a long term trend.
Calculation: Tricklar long trend (T3):
1) [BULLISH] An uptrend is a succession of higher peaks and higher troughs in the third timeframe;
2) [BEARISH] A downtrend is a succession of lower peaks and lower troughs in the third timeframe;
PROFILE: Tower (TWR.AX)
Stock Exchange: ASX
Ticker Codes: | TWR.AX | ASX:TWR |
TOWER Limited provides general insurance products and services in New Zealand and the Pacific Islands. Its insurance products include car, house, contents, business, travel, boat, motorbike, rural, and caravan insurance. The company was founded in 1869 and is based in Auckland, New Zealand.
3rd timeframe trendDownload
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