Trading: HOLD @ $15.46
Signal Strength: STRONG
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has been constructed to highlight the existence of a trend for an assocaited timeframe. Trend determining indicators can be used in short, medium or long term timeframes & determines if the stock is trending or ranging. Once the trend status is quantified, this can then be coupled to additional indicators to add a significant advantage to the trading strategy.
The Supertrend is a trend following indicator which identifies uptrends and downtrends. The SuperTrend indicator is calculated utilising the ATR to offset the indicator from the common price. Before understanding the supertrend indicator, understanding the ATR is essential as super trend employs ATR values to calculate the indicator values. This indicator fluctuates above and below 0 signalling the current direction of the trend. This is a lagging trend indicator that assists in defining trend directions does not perform well in ranging markets.
Calculation: Supertrend (SUP) :
1) Basic Upper band = (High + Low) / 2 + Multiplier * ATR;
2) Basic Lower band = (High + Low) / 2 - Multiplier * ATR
3) Final Upper band = IF((Basic Upper band < Final Upper band(yest)) OR (Close(yest) > Previous Final Upper band(yest))) THEN (Basic Upper band) ELSE Final Upper band(yest));
4) Final Lower band = IF((Basic Lower band > Final Lowerband (yest)) OR (Close(yest) < Final Lower band(yest))) THEN (Basic Lower band) ELSE Final Lower band(yest));
5) Supertrend = IF(Close <= Final Upper band ) THEN Final Upper band ELSE Final Lower band;
Where Multiplier = 3; Period=14
PROFILE: Worleyparsons (WOR.AX)
Stock Exchange: ASX
Ticker Codes: | WOR.AX | ASX:WOR |
WorleyParsons Limited provides professional services to the resources and energy sectors in Australia and internationally. The company provides engineering design and project delivery services, including maintenance, reliability support, and advisory services. The company offers engineering and project management services to the floating production systems, heavy oil and oil sands, offshore topsides, offshore pipelines and subsea systems, onshore pipelines and receiving terminals, onshore oil and gas production facilities, sulphur recovery plants, arctic and cold climate, and unconventional oil and gas facilities, as well as for petrochemicals, refining, and LNG sectors. It also provides engineering and project services for base metals, coal, chemicals, ferrous metals, alumina, aluminum, iron ore, and gas cleaning industries. In addition, the company offers infrastructure business support services for resource and urban infrastructure markets, including environmental and restoration services, development of water gathering and processing facilities, rail and port assets, and power generation and transmission. WorleyParsons Limited was founded in 1971 and is based in North Sydney, Australia.
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