|Position||Trades||Duration||Win rate||Win/loss||Avg win||Avg loss||Return|
|Position||Trades||Duration||Win Rate||Win/Loss||Avg Win||Avg Loss||Return|
Trading: BUY @ $79.34
Signal Strength: MEDIUM
Indicator can be used in isolation but is strengthened by additional indicator confirmation. Indicator can be applied to the short or medium term timeframe and is able to highlight a potential change in price direction. This bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.
Xero (ASX:XRO) A short term Hook Reversal has formed with Xero which confirms the presence of a bullish bar reversal. Over the last 12 months there have been 1 occurrences of this bar reversal giving a signal probability of 0.4%.
The Hook Reversal is a specific form of an inside day where there is a failure to maintain the trending move. This reversal signal is not an absolute break in the trend. Most traders will notice the lower closing price and a failure to make a new high but unaware of the loss of commitment.
Calculation: Hook Reversal:
1) Uptrend: Open (near low) & Close (near high) & [High] < [High Yesterday] & [Low] > [Low Yesterday];
2) Downtrend: Open (near high) & Close (near low) & [High] < [High Yesterday] & [Low] > [Low Yesterday]
PROFILE: Xero (XRO.AX)
Stock Exchange: ASX
Ticker Codes: | XRO.AX | ASX:XRO |
Xero Limited, together with its subsidiaries, operates as a software as a service company worldwide. The company offers Xero, a cloud-based accounting software that connects small businesses to their advisors. It also provides accountant/bookkeeper tools, including Xero HQ, Xero Practice Manager, Xero Workpapers, and Xero Cashbook/Ledger; and Xero mobile app. The company serves various businesses, such as retail, high tech, non-profit, legal, Amazon sellers, hospitality, cafÚs, startups, construction, creatives, e-commerce, small business, healthcare, farming, manufacturing, tourism, and real estate. Xero Limited was founded in 2006 and is headquartered in Wellington, New Zealand.
|BKY Berkeley Resources||0.24||4.4||35,617||-1||BEARISH|
|NWS News Corporation||20.3||3.4||637,766||-1||BEARISH|
|SDA Speedcast International||0.76||3.4||2,991,801||-1||BEARISH|
|WSA Western Areas||3.1||3.3||3,357,559||-1||BEARISH|
|KAR Karoon Gas Australia||1.09||3.3||934,163||-1||BEARISH|
|OSP Osprey Medical||0.03||3.1||20,438||-1||BEARISH|
|PME Pro Medicus||21.73||2.7||501,228||-1||BEARISH|
|MAQ Macquarie Telecom||23||2.2||5,382||-1||BEARISH|