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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Exponential Moving Average(5) signal continues for West African Resources indicating downward price movement is likely
Exponential Moving Average /
Exponential Moving Average(5) signal continues for West African Resources indicating downward price movement is likely

[BEARISH]: West African Resources currently has a confirmed downtrend. Recent trading has caused the EMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on EMA5 is -3.3%.

West African Resources has moved below the S1 Woodie pivot point ($0.434) [Bearish]
Woodie Pivot Point /
West African Resources has moved below the S1 Woodie pivot point ($0.434) [Bearish]

West African Resources has broken the first Woodie support point ($0.434) [Bearish]. Look for a short limit order entry near this point. Exit price for WAF should be set @$0.429 & short position stoploss for West African Resources should be set at $0.455

Range Tod Vs Range Yest /
Sellers are still less eager for West African Resources given the price range is contracting

[WEAK BULLISH]: West African Resourcessellers are becoming less eager. There has been 2 consecutive days of range increase for WAF reducing strength to an uptrend in the first timeframe. The biggest price range this month has been $0.075 & the greatest daily price range this year has been $0.075. The price range ratio this week versus the quarterly price range is 0.6x & the price range ratio this month versus the year to date price range is 1x.

Volume Rate of Change /
West African Resources currently has negative volume rate of change for -33

WAF: VROC Current Signal -> (1) 11 Jan: BEARISH (2) 11 Jan: BEARISH CROSSOVER (3) 11 Jan: BULLISH

Chaikin Money Flow /
CMF Crossover from decreased selling pressure for West African Resources

WAF: Chaikin Oscillator Recent Trading -> (1) 11 Jan: -0.26 (2) 11 Jan: 0.35 (3) 11 Jan: 0.28

Low Price /
West African Resources: Daily low performance is -2.9 % [Downtrend]

[BULLISH]: West African Resources current downtrend in the first timeframe. Currently, the Low is $0.437 (-2.9 %).

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Short Trend /
Daily trading again produced an Downtrend bar for West African Resources

[BEARISH]: West African Resources is in a downtrend in the short term timeframe. The sellers have dominated the daily trade, however further confirmation is required before taking a position

Limit order for a short position has been identified for West African Resources @$0.1
Fibonacci Extensions /
Limit order for a short position has been identified for West African Resources @$0.1

West African Resources has moved above the 161.8% level ($0.1) [Bearish]. Look for a short limit order entry near this point. Exit price for WAF should be set @$0.14 & short position stoploss for West African Resources should be set at $0.07

Open/close reversal: Sellers were in control for all the trading day for WAF
Open Tod Vs Close Tod /
Open/close reversal: Sellers were in control for all the trading day for WAF

[BEARISH STRONG]: West African Resources opened in the upper part of daily range at 100% & closed in the lower part of the trading range at 23.1%. This suggests the sellers were in control all day. Over the last 12 months there has been 56 trading days with the opening price in the upper shadow & the closing the price in the lower shadow giving a confirmation ratio of 21.5%. Over the last month there has been 2 trading days with the opening price in the lower upper range & the closing the price in the lower price range giving a confirmation ratio of 25%.

Demarks Pivot Points /
West African Resources has broken the first DeMark support point ($0.441) [Bearish]

West African Resources current pivot point (DeMark) is: (R1) $0.445. The current pivot point (DeMark) is: (S1) $0.432.

Evening Star /
West African Resources: Evening Star

[BEARISH]: West African Resources has formed a new Evening Star pattern.

Elders Force Index /
Recent trading highlights initial buying pressure is present for WAF

[BULLISH]: West African Resources current price has highlighted recent buying pressure. Currently, the Elders Force Index is 1465.

West African Resources: Daily opening price is $0.45
Opening Price /
West African Resources: Daily opening price is $0.45

[BEARISH]: West African Resources opening price has gapped down. Currently, the OPEN is $0.45 (-2.2 %).

William %R (-46.7) for WAF is now above the oversold limit
Williams %R /
William %R (-46.7) for WAF is now above the oversold limit

WAF: William %R Current Signal -> (1) 11 Jan: BEARISH CROSSUNDER (2) 11 Jan: BULLISH CROSSOVER (3) 11 Jan: BEARISH CROSSUNDER

Medium Trend /
Second timeframe trend of West African Resources remains as an Uptrend

WAF: Medium Term Current Signal -> (1) 11 Jan: BULLISH (2) 11 Jan: BULLISH (3) 11 Jan: BULLISH CONFIRM

High Price /
[Bearish]: Lower high has formed for WAF by -5.3 % during the last trading session

[BEARISH]: West African Resources current downtrend in the first timeframe. Currently, the HIGH is -5.3 %.

Close Tod Vs Close Yest /
The biggest downward movement for West African Resources this month has been -3.3

[BEARISH]: West African Resourcessellers are keener than buyers and are driving the price down. This is the first day of price decline for WAF adding strength to a downtrend change in the first timeframe. The biggest downward movement this month has been -3.3 & the greatest daily negative change this year has been -3.3. The longest consecutive downswing rally over the last 12 months has been 4 days giving a total rally downward movement of -16.4%. This quarter, the largest downswing rally has been 1 days giving a total rally downward movement of -3.3%. The loss ratio for price decline in the first timeframe for the last 12 months is 0.3x giving a total win/loss ratio of 1.2x. Over the last month the average daily downward movement has been -2.2%

WAF Basic Candle: Black
Black Candle /
WAF Basic Candle: Black

[BEARISH]: West African Resources has formed a Black candlestick. Normal selling pressure highlighting sellers were in control.

West African Resources: Detrended Price Oscillator(20) is 0.0395 [Bullish Crossover]
Detrended Price Oscillator /
West African Resources: Detrended Price Oscillator(20) is 0.0395 [Bullish Crossover]

WAF: DPO Current Signal -> (1) 11 Jan: BULLISH CROSSOVER (2) 11 Jan: BEARISH CROSSOVER (3) 11 Jan: BULLISH CROSSOVER

Price is now trading above the Triangular Moving Average(5) for WAF
Triangular Moving Average /
Price is now trading above the Triangular Moving Average(5) for WAF

[BULLISH]: West African Resources currently has a confirmed uptrend. Recent trading has caused the TMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on TMA5 is -3.3%.

Ease of Movement /
Price dipped from high volume trading for West African Resources during last trading session

WAF: EOM Current Signal -> (1) 11 Jan: BEARISH HARD (2) 11 Jan: BEARISH HARD (3) 11 Jan: BULLISH HARD

Weighted Moving Average /
Weighted Moving Average(5) signal continues for West African Resources indicating downward price movement is likely

[BEARISH]: West African Resources currently has a confirmed downtrend. Recent trading has caused the WMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on WMA5 is -3.3%.

Momentum /
West African Resources: Momentum(5)

[BEARISH]: West African Resources currently has negative momentum of -0.005 This means the current price is less than the price 5 days ago and therefore losing momentum. Currently, the return on momentum is -3.3%.The largest downward momentum rally for the last 3 months is 1 days producing a return of 0%%.

Daily Volume Index /
WAF: Current trading activity signals DVI distribution has commenced

[BEARISH CROSSOVER]: West African Resources current price has highlighted the commencement of distribution and the start of bearish trading conditions.

Weaker volume performance from WAF has seen a lower volume of -56.5 [Downtrend]
Volume /
Weaker volume performance from WAF has seen a lower volume of -56.5 [Downtrend]

[BEARISH]: West African Resources current volume downtrend in the first timeframe. Volume for WAF is520803 (-56.5).

Average True Range for West African Resources has signalled an downtrend is active
Average True Range /
Average True Range for West African Resources has signalled an downtrend is active

[Bearish]: Average True Range has confirmed an downtrend is present. West African Resources has a TR of 0.018, and an ATR(14) of 0.019.

Rate of Change /
West African Resources has initiated a positive rate of change of 6.024

[BULLISH CROSSOVER]: West African Resources currently has positive rate of change of 6%. This means the current price is greater than the price 14 days ago and therefore gaining momentum & is a leading indicator of price movement in the upward direction

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