Technical analysis from West African Resources (WAF.AX.AX, ASX:WAF.AX) on the Australian Stock Exchange (ASX). Download the latest price data & trading signals

West African Resources
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Volume MACD oscillator remains positive for WAF
MACD Volume /
Volume MACD oscillator remains positive for WAF

[BULLISH]: West African Resources currently has positive Volume MACD of 47172.0000. This means the signal line is greater than the Volume MACD line signalling a bullish movement.

West African Resources: Closing price $0.3700 is below the TMA(5) @$0.3750
Triangular Moving Average /
West African Resources: Closing price $0.3700 is below the TMA(5) @$0.3750

[BEARISH]: West African Resources currently has a confirmed downtrend. Recent trading has caused the TMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on TMA5 is 2.8%.

Sine Weighted Moving Average /
West African Resources: Closing price $0.3700 is above the SWMA(5) @$0.368

[BULLISH]: West African Resources currently has a confirmed uptrend. Recent trading has caused the SWMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on SWMA5 is 2.8%.

Elder Ray Index /
West African Resources: Elder Ray Index is -0.0240 [Bearish]

WAF: Elder Ray Index Current Signal -> (1) 23 Apr: BEARISH (2) 20 Apr: BEARISH (3) 19 Apr: BEARISH

Percentage Price /
Price percentage oscillator has negative momentum signalling a continuation of the downward price fall for WAF

[BEARISH]: West African Resources currently has negative PPO -1.6000%. This means the current price is losing momentum through a fall on the short term exponential moving average.

Opening Price /
West African Resources: Daily opening performance is -5.4 % [Downntrend]

[BEARISH]: West African Resources opening price has gapped down. Currently, the OPEN is $0.3500 (-5.4 %).

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Accumulation / Distribution /
West African Resources: Current trading activity signals distribution is present

[BEARISH]: West African Resources current distribution has given weakness to the share price and the continuation of bearish trading conditions. Currently, the ADLINE is -169714.0000. day.

Daily trading performance for WAF has initiated a short term uptrend
Close Tod Vs Close Yest /
Daily trading performance for WAF has initiated a short term uptrend

[BULLISH]: West African Resourcesbuyers are currently keener than sellers and are driving the price up. This is the first day of price rise for WAF adding strength to an uptrend change in the first timeframe. The biggest upward movement this month has been 3.2 & the greatest daily positive change this year has been 5.2. The longest consecutive upswing rally over the last 12 months has been 4 days giving a total rally upward movement of 18%. This quarter, the largest upswing rally has been 2 days giving a total rally upward movement of 3.2%. The win ratio for price rise in the first timeframe for the last 12 months is 0.4x giving a total win/loss ratio of 1.1x. Over the last month the average daily upward movement has been 1.800000%

CMF Crossover from increased buying pressure for West African Resources
Chaikin Money Flow /
CMF Crossover from increased buying pressure for West African Resources

WAF: Chaikin Oscillator Current Signal -> (1) 23 Apr: BULLISH CROSSOVER (2) 20 Apr: BEARISH (3) 19 Apr: BEARISH

Weighted Moving Average /
The WMA trend following signal is now active for West African Resources [Bullish]

[BULLISH]: West African Resources currently has a confirmed uptrend. Recent trading has caused the WMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on WMA5 is 2.8%.

Low Price /
[Bearish]: Lower low has formed for WAF by -2.8 % during the last trading session

[BULLISH]: West African Resources current downtrend in the first timeframe. Currently, the Low is $0.3500 (-2.8 %).

Range Tod Vs Range Yest /
West African Resources: Range Performance (33.3)

[BEARISH]: West African Resourcessellers are increasingly eager. There has been 2 consecutive days of range increase for WAF adding strength to an uptrend in the first timeframe. The biggest price range this month has been $0.0400 & the greatest daily price range this year has been $0.1250. The price range ratio this week versus the quarterly price range is 0.5000000000000000000x & the price range ratio this month versus the year to date price range is 0.3000000000000000000x.

Daily trading has confirmed the DPO(20) is bearish for West African Resources
Detrended Price Oscillator /
Daily trading has confirmed the DPO(20) is bearish for West African Resources

WAF: DPO Current Signal -> (1) 23 Apr: BEARISH (2) 20 Apr: BEARISH (3) 19 Apr: BEARISH

WAF: Medium term trend is still an Downtrend
Medium Trend /
WAF: Medium term trend is still an Downtrend

[BEARISH]: West African Resources has a medium timeframe downtrend confirmation. This was confirmed through a price breakout on the Apr 17 2018.

Aroon Oscillator /
West African Resources: Aroon oscillator (-84.0000) has confirmed a strong downtrend is present

[BEARISH]: West African Resources has a current ARU(25) of 16.0000 and a current ARD(25) of 100.0000

Volume /
West African Resources: Daily volume is 1089542 [Higher Volume]

[BULLISH]: West African Resources current volume uptrend in the first timeframe. Volume for WAF is1089542 (143.9).

Percentage Volume /
Volume is still above the short term EMA for WAF [Bullish]

WAF: PVO Recent Trading -> (1) 23 Apr: 17.2000 (2) 20 Apr: 6.7100 (3) 19 Apr: 6.8200

West African Resources: Look for a long limit order entry @$0.3760
Pivot Points /
West African Resources: Look for a long limit order entry @$0.3760

West African Resources has broken the first resistance point ($0.3760) [Bullish]. Look for a long limit order entry near this point. Exit price for WAF should be set @$0.3830 & Stoploss for West African Resources should be set between $0.3430 & $0.3360

Price was difficult to move downward in recent trading on high volume causing an downtrend in price for WAF
Ease of Movement /
Price was difficult to move downward in recent trading on high volume causing an downtrend in price for WAF

WAF: EOM Current Signal -> (1) 23 Apr: BEARISH HARD (2) 20 Apr: NEUTRAL (3) 19 Apr: BEARISH HARD

Woodie pivot point for WAF is bullish. Stoploss should be positioned @$0.3450
Woodie Pivot Point /
Woodie pivot point for WAF is bullish. Stoploss should be positioned @$0.3450

West African Resources has broken the first Woodie resistance point ($0.3800) [Bullish]. Look for a long limit order entry near this point. Exit price for WAF should be set @$0.3850 & Stoploss for West African Resources should be set at $0.3450

Daily Volume Index /
West African Resources: Current trading activity signals DVI accumulation has commenced

[BULLISH CROSSOVER]: West African Resources current price has highlighted the commencement of accumulation and the start of bullish trading conditions. Currently, the DVI is 1321.0000.

Ulcer Index /
Ulcer index has increased in stress level & high drawdown is expected for West African Resources

[BULLISH]: West African Resources UIX index implies that the downside risk of the current trading price is high. Currently, the UIX is 6.1110.

Price Range /
West African Resources: Daily price range is $0.0200 [Uptrend]

[BULLISH]: West African Resources current uptrend in the first timeframe. Currently, the Range is $0.0200.

On Balance Volume /
Accumulation OBV signal for West African Resources is confirmed

WAF: OBV Recent Trading ->(1) 23 Apr: 1153576.0000 (2) 20 Apr: 64034.0000 (3) 19 Apr: 510669.0000

WAF: Average Directional Index has confirmed a weak trend @10.5900
Average Directional Movement /
WAF: Average Directional Index has confirmed a weak trend @10.5900

[Weak Trend]: ADX for WAF has confirmed a weak trend is presentWest African Resources has an ATR(14) of 0.0130, a DX of 20.2500 & an ADX(14) of 10.5900

[Uptrend]: Recent trading for WAF confirms bullish EMA(5) signal
Exponential Moving Average /
[Uptrend]: Recent trading for WAF confirms bullish EMA(5) signal

[BULLISH]: West African Resources currently has a confirmed uptrend. Recent trading has caused the EMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on EMA5 is 2.8%.

Average True Range /
WAF: Average True Range has confirmed an uptrend @0.0130

[Bullish]: Average True Range has confirmed an uptrend is present. West African Resources has a TR of 0.0200, and an ATR(14) of 0.0130.

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