Viva Energy Reit (VVR.AX)
Trading: BUY @ $2.2
Signal Strength: STRONG
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading position. 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 Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
Viva Energy Reit (ASX:VVR) has formed a new Bullish Piercing reversal pattern. This means, VVR has been in a short term downtrend with a black candle which is followed by a strong gap down on open but closes in the upper half of the previous candle. This indicates after a very weak open the bulls have taken control on the close and highlights a potential trend change in the upward direction.
This is a bottom reversal pattern with two candlesticks. A black candlestick appears on the first day while a downtrend is in progress. The second day opens at a new low with a gap down and closes more than halfway into the prior black body leading to the formation of a strong white candlestick.
The market is characterized by a prevailing downtrend.
2) A black candlestick appears on the first day.
3). A white candlestick opens on the second day with a gap down and closes more than halfway into the body of the first day.
4. The second day fails to close above the body of the first day.
PROFILE: Viva Energy Reit (VVR.AX)
Stock Exchange: ASX
Company: Viva Energy Reit
Ticker Codes: | VVR.AX | ASX:VVR |
Viva Energy REIT was established in August 2016 as the owner of an initial portfolio of 425 service station sites located across Australia; since this time the property portfolio has increased to 437 sites via the acquisition of additional properties. Viva Energy REIT is Australia's largest listed REIT owning solely service station properties with a high quality portfolio of service stations across all Australian States and Territories.
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