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

Westgold Resources
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Westgold Resources: Three White Soldiers
Three White Soldiers /
Westgold Resources: Three White Soldiers

[BULLISH]: Westgold Resources has formed a new Three White Soldiers pattern.

Stochastic Oscillator /
Stochastic Oscillator for WGX is still below the oversold limit signalling a bullish movement

[BULLISH]: Westgold Resources is currently Oversold highlighting the potential for a short term trend reversal in the upward direction.

Demarks Pivot Points /
[Long]: Entry price for WGX should be set @$1.6425

Westgold Resources has broken the first DeMark resistance point ($1.6425) [Bullish]. Look for a long limit order entry near this point. Exit price for WGX should be set @$1.705 & Stoploss for Westgold Resources should be set at $1.62

Simple Moving Average /
The SMA trend following signal is now active for Westgold Resources [Bullish]

[BEARISH]: Westgold Resources currently has a confirmed downtrend. Recent trading has caused the SMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on SMA5 is 2.2%.

Opening Price /
Weak opening from WGX has seen an decrease of 0 % [Downtrend]

WGX: OPEN Recent Trading -> (1) 12 Dec: 1.6 (2) 11 Dec: 1.6 (3) 08 Dec: 1.6

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On Balance Volume /
Westgold Resources: Current trading activity signals OBV accumulation is present

[BULLISH]: Westgold Resources current price has highlighted recent accumulation. Currently, the OBV is 445047.

Westgold Resources: Elder Ray Index is -0.132 [Bearish]
Elder Ray Index /
Westgold Resources: Elder Ray Index is -0.132 [Bearish]

WGX: Elder Ray Index Recent Trading -> (1) 12 DecBull Power: -0.047Bear Power: -0.132 (2) 11 DecBull Power: -0.061Bear Power: -0.136 (3) 08 DecBull Power: -0.109Bear Power: -0.189

[Uptrend]: Average True Range (0.069) uptrend has been confirmed for WGX
Average True Range /
[Uptrend]: Average True Range (0.069) uptrend has been confirmed for WGX

WGX: Average True Range Recent Trading -> (1) 12 Dec: 0.069 (2) 11 Dec: 0.068 (3) 08 Dec: 0.067

Elders Force Index /
Recent trading highlights continued selling pressure is present for WGX

[BEARISH]: Westgold Resources current price has highlighted recent selling pressure. Currently, the Elders Force Index is -13532.

Pivot Points /
Pivot point for WGX is bullish. Stoploss should be positioned @$1.55

Westgold Resources has broken the first support point ($1.605) [Bearish]. Look for a short limit order entry near this point. Exit price for WGX should be set @$1.55 & short position stoploss for Westgold Resources should be set between $1.72 & $1.775

Triangular Moving Average /
[Downtrend]: Recent trading for WGX indicates ST trend is likely to continue

[BEARISH]: Westgold 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 2.2%.

DPO for WGX has confirmed price is currently below the displaced moving average
Detrended Price Oscillator /
DPO for WGX has confirmed price is currently below the displaced moving average

[BEARISH]: Westgold Resources currently has a confirmed downtrend. Price is currently below the displaced moving average for WGXCurrently, the return on DPO20 is 2.2%.

PPO has negative momentum signalling a continuation of downward price fall for WGX
Percentage Price /
PPO has negative momentum signalling a continuation of downward price fall for WGX

[BEARISH]: Westgold Resources currently has negative PPO -3.200%. This means the current price is losing momentum through a fall on the short term exponential moving average.

Fibonacci Fans /
Westgold Resources has moved below the 61.8% retracement fan level ($5.94) [Bearish]

Westgold Resources has moved below the 61.8% retracement level ($5.94) [Bearish]. Look for a short limit order entry near this point. Exit price for WGX should be set @$1.37 & short position stoploss for Westgold Resources should be set between $1.38

Bill Williams Market Facilitation /
Recent trading has confirmed a Green Day for Westgold Resources

Westgold Resources Currently is a confirmed Green Day. Both MFI & volume are down for WGX. Trend continuation likely for WGX from increased trading activity.

Weighted Moving Average /
Price continues to trade above the Weighted Moving Average(5) for WGX

[BULLISH]: Westgold 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 2.2%.

[Bullish]: Westgold Resources has beaten previous close by 2.2 %
Closing Price /
[Bullish]: Westgold Resources has beaten previous close by 2.2 %

[BULLISH]: Westgold Resources current uptrend in the first timeframe. Currently, the Close is $1.66.

Westgold Resources: Rate of Change (14)
Rate of Change /
Westgold Resources: Rate of Change (14)

[BEARISH]: Westgold Resources currently has negative rate of change of -8.8%. This means the current price is less than the price 14 days ago and therefore losing momentum & is a leading indicator of price movement in the downward direction

Continuation of the oversold CCI signal for Westgold Resources
Commodity Channel Index /
Continuation of the oversold CCI signal for Westgold Resources

[BULLISH]: Westgold Resources current trading has maintained the Commodity Channel Index to oversold status and signalled the continuation of the bullish trading conditions. Currently, the CCI is -120. WGX received a confirmed CCI crossover on the Dec 5 2017.The bullish signal has been active for 6 days. During the quarter, the lowest CCI value was -436.

Long White Candle /
WGX Basic Candle: Long White

[BULLISH]: Westgold Resources has formed a Long White candlestick. This means, WGX has traded with strong buying pressure throughout the day adding strength to previous short term trends. Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.

Sine Weighted Moving Average /
Westgold Resources is in a short term uptrend with the support price @$1.618

[BULLISH]: Westgold 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 2.2%.

Low Price /
WGX has achieved a lower low of $1.58 (-0.3 %)

[BULLISH]: Westgold Resources current downtrend in the first timeframe. Currently, the Low is $1.58 (-0.3 %).

Medium Trend /
Second timeframe trend of Westgold Resources remains as an Downtrend

[BEARISH]: Westgold Resources is in an downtrend in the medium term timeframe. The current rally number is 6 & the highest rally count for the LTM is 6. The highest rally for the month is 8

Closing price for WGX ($1.66) signals buyers are still keener than sellers
Close Tod Vs Close Yest /
Closing price for WGX ($1.66) signals buyers are still keener than sellers

[BULLISH]: Westgold Resourcesbuyers are keener than sellers and are driving the price up. There has been 3 consecutive days of price rise for WGX adding strength to an uptrend in the first timeframe. The biggest upward movement this month has been 2.2 & the greatest daily positive change this year has been 12.5. The longest consecutive upswing rally over the last 12 months has been 3 days giving a total rally upward movement of 12.5%. This quarter, the largest upswing rally has been 3 days giving a total rally upward movement of 4.7%. 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 0.9x. Over the last month the average daily upward movement has been 1.4%

Westgold Resources: Average Directional Index (19.05) has confirmed a weak trend is present
Average Directional Movement /
Westgold Resources: Average Directional Index (19.05) has confirmed a weak trend is present

[Weak Trend]: ADX for WGX has confirmed a weak trend is presentWestgold Resources has an ATR(14) of 0.069, a DX of 33.47 & an ADX(14) of 19.05

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

[BULLISH CROSSOVER]: Westgold Resources current price has highlighted the commencement of accumulation and the start of bullish trading conditions.

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