Western Areas

Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Daily Volume Index

Score

-1.95

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 24 10.3 0.29% 0.41% 3.1% -5.3% -68.4%
SHORT 26 18.4 0.27% 0.35% 4.3% -4.2% -54.7%

Summary

Technical Analysis

Western Areas (WSA.AX)


Indicator:

DAILY VOLUME INDEX


Last Signal:

BEARISH


Trading: SELL @ $2.02
Signal Strength: MEDIUM
Recommendation:

Western Areas (ASX:WSA) current distribution has given weakness to the share price and the continuation of bearish trading conditions. Currently, the DVI is -1525.


Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading exit. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


The daily volume index (DVI) is the amount of individual securities traded in a day on average over a specified period of time. Trading activity relates to the liquidity of a security. When average daily trading volume is high the stock can be easily traded and has high liquidity if trading volume is not very high and the security will tend to be less expensive because people are not as willing to buy it. As a result average daily trading volume can have an effect on the price of the security.

Calculation: Daily Volume Index (DVI):
1) [Close]-[Average price] / [Average price] x [Volume];


PROFILE: Western Areas (WSA.AX)


Stock Exchange: ASX
Company: Western Areas
Ticker Codes: | WSA.AX | ASX:WSA |

About Western Areas (ASX:WSA):

Western Areas Limited engages in the mining, processing, and sale of nickel sulphide concentrates. The company develops high grade nickel mines; and explores for nickel sulphides and other base metals in Australia, Canada, and Finland. Its flagship property is the Forrestania project located in Australia. The company was founded in 1999 and is headquartered in West Perth, Australia.

Top 10:

Daily Volume Index

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Company Close Change(%) Volume Value Signal
DNA Donaco International 0.12 9.1 3,465,966 -70,851 BEARISH
BFC Beston Global Food 0.11 5 372,431 -2,440 BEARISH
NMT Neometals 0.22 4.9 479,038 -582 BEARISH
LAU Lindsay Australia 0.34 4.6 181,661 -383 BEARISH
DNK Danakali 0.71 4.4 160,675 -487 BEARISH
RSG Resolute Mining 1.26 3.7 10,921,411 -15,646 BEARISH
SYR Syrah Resources 0.86 3 7,057,555 -56,697 BEARISH
VAH Virgin Australia Holdings 0.17 3 676,369 -1,835 BEARISH
RCT Reef Casino 2.48 2.5 8,450 -145 BEARISH
BAL Bellamys Australia 7.95 2.1 1,201,427 -6,579 BEARISH