Trading: BUY @ $12.19
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading entry. 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 bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.
Webjet (ASX:WEB) buyers are currently keener than sellers and are driving the price up. This is the first day of price rise for WEB adding strength to an uptrend change in the first timeframe. The biggest upward movement this month has been 5.5 & the greatest daily positive change this year has been 5.5. The longest consecutive upswing rally over the last 12 months has been 9 days giving a total rally upward movement of 1315.6%. This quarter, the largest upswing rally has been 4 days giving a total rally upward movement of 10%. The win ratio for price rise in the first timeframe for the last 12 months is 0x giving a total win/loss ratio of 3x. Over the last month the average daily upward movement has been 1.700000%
The only price most market participants look at is the closing price in relation to the previous day’s close. As such the position of the close has the ability to highlight recent performance and indirectly the keenness of traders.
[Calculations] Close Today Versus Close Yesterday (CTCY):
1) [Close] > [Close Yesterday] = Buyers keener than sellers;
2) [Close] < [Close Yesterday] = Sellers keener than buyers;
3) [Close] = [Close Yesterday] = Neither are keener
PROFILE: Webjet (WEB.AX)
Stock Exchange: ASX
Ticker Codes: | WEB.AX | ASX:WEB |
Webjet Limited provides online travel booking services in Australia, New Zealand, and internationally. It operates through Business to Consumer Travel and Business to Business Travel segments. The company enables its customers to compare, combine, and book travel flights, hotel accommodation, holiday package deals, car hire, travel insurance, motorhomes, and cruises, as well as offers digital marketing consultancy services. Its brands include Webjet, Online Republic, Lots of Hotels, Sunhotels, and FIT Ruums. The company serves consumers, travel agents, online travel agencies, wholesalers, and tour operators. Webjet Limited is based in Melbourne, Australia.
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