Westpac Banking Corporation (WBC)

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Westpac Banking Corporation (WBC): Signals

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Summary

[NEUTRAL]: Westpac Banking Corporation opened in the middle part of daily range at 37.5% & closed in the middle part of the trading range at 50%. This suggests that neither side is committed. Over the last 12 months there has been 27 trading days with the opening price in the middle shadow & the closing the price in the middle shadow giving a confirmation ratio of 10.3%. Over the last month there has been 2 trading days with the opening price in the middle price range & the closing the price in the middle price range giving a confirmation ratio of 13.3%.



The opening and closing bar positions can add depth to assess whether buyers of sellers commitment is changing and thus which side is in control at the close of the trading session.

[Calculation] Open Today Versus Close Today (OTCT):
1) If the market opens near the low and closes near the high the buyers have had control during the entire day;
2) If the market opens near the high and closes near the low the sellers have had control during the entire day;
3) If the market opens near one extreme of the range and closes near the middle of the range the side who started in control has lost commitment;
4) If the market opens near one extreme and closes near the same extreme the side who started in control has lost control;
5) If the market opens near the middle of the range and closes near one extreme control has swung to the buyers;
6) If the close is near the high and if the close is near the low the control has swung to the sellers;
7) If the market opens near the middle of the range and closes similarly neither side is strongly committed;

Top 10:

Open Today Versus Close Today

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