Westpac Banking Corporation (WBC.AX)
COLES RALLY/REACTION DAY
Trading: HOLD @ $26.24
Signal Strength: MEDIUM
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.
Westpac Banking Corporation (ASX:WBC)
Roger Cole devised a method to use rally and reaction days. Cole disregarded inside and outside days to find three rally days in a row or three reactions in a row. This is like three soldiers or three crows in candlestick pattern analysis, except Cole allowed for inside or outside days to intervene. Three soldiers and three crows, while rare, are extremely reliable. So Cole gave us some relief from a strict definition, but traded off increased frequency at the expense of reliability. Cole also used moving average crossovers to augment the two-day (rally, reaction, inside, outside day) results.
Calculation: Coles Reaction Day:
1) Rally Day: High > High yesterday & Low > Low yesterday;
2) Reaction Day: High > High yesterday & Low < Low yesterday
PROFILE: Westpac Banking Corporation (WBC.AX)
Stock Exchange: ASX
Company: Westpac Banking Corporation
Ticker Codes: | WBC.AX | ASX:WBC |
Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, Asia, the Pacific region, and internationally. It operates through five divisions: Consumer Bank, Business Bank, BT Financial Group, Westpac Institutional Bank, and Westpac New Zealand. It offers everyday banking, savings, term deposit, moving to Australia, under 21 and student, business, community solutions one, not-for-profit savings, and foreign currency accounts; term, tailor-made, and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, and insurance premium financing services. It also provides home and content, landlord, car, travel, boat, caravan and trailer, life, credit card and loan repayment, income protection, business, farm pack, person income, and business overheads insurance products; superannuation and retirement products; investment portfolios; installment warrants; and trading, financial advisory, wealth, foreign currency exchange, international payment, cash flow management, international trade, and import and export services. In addition, it offers industry specific banking and treasury services; other services, such as emergency cash, online and telephone banking, ATMs, unclaimed money, travel center, margin lending, and banking services to migrants moving to Australia; and mobile wallets. Further, it provides capital advisory and fund management, transactional and private banking, and financial market services; and corporate and structured finance, as well as trade and supply chain finance. It serves individuals; micro, small, and medium enterprises; and commercial, corporate, institutional, and government customers. The company was formerly known as Bank of New South Wales and changed its name to Westpac Banking Corporation in October 1982. The company was founded in 1817 and is headquartered in Sydney, Australia.
Cole's Reaction DayDownload
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