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

Westgold Resources
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Westgold Resources: Direction, extent & volume have increased in recent trading [Buying Pressure]
Elders Force Index /
Westgold Resources: Direction, extent & volume have increased in recent trading [Buying Pressure]

[BULLISH]: Westgold Resources current price has highlighted recent buying pressure. Currently, the Elders Force Index is 1368.

The 161.8% Fibonacci extension level for WGX has moved to the upper limit. Stoploss should be positioned @$0.2
Fibonacci Extensions /
The 161.8% Fibonacci extension level for WGX has moved to the upper limit. Stoploss should be positioned @$0.2

Westgold Resources has moved above the 161.8% level ($0.17) [Bearish]. Look for a short limit order entry near this point. Exit price for WGX should be set @$0.14 & short position stoploss for Westgold Resources should be set at $0.2

Momentum /
Westgold Resources: Momentum(5)

[BEARISH]: Westgold Resources currently has negative momentum of -0.015 This means the current price is less than the price 5 days ago and therefore losing momentum. Currently, the return on momentum is -1.3%.The largest downward momentum rally for the last 3 months is 1 days producing a return of -4.6%.

High Price /
WGX has achieved a lower high of $1.55 (-1.0 %)

WGX: HIGH Current Signal -> (1) 17 May: BEARISH (2) 16 May: BEARISH (3) 15 May: BULLISH

Rate of Change /
Rate of change is now rising for Westgold Resources signalling an uptrend will persist

WGX: ROC Current Signal -> (1) 17 May: BULLISH CROSSOVER (2) 17 May: BEARISH CROSSOVER (3) 17 May: BULLISH

Ulcer Index /
Drawdown for Westgold Resources is currently low signalling low stress

[BEARISH]: Westgold Resources UIX index implies that the downside risk of the current trading price is low. Currently, the UIX is 3.309.

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Close Tod Vs Close Yest /
Daily trading performance for WGX has continued a short term downtrend

[BEARISH]: Westgold Resourcessellers are keener than buyers and are driving the price down. There has been 2 consecutive days of price decline for WGX adding strength to a downtrend in the first timeframe. The biggest downward movement this month has been -4.6 & the greatest daily negative change this year has been -6.9. The longest consecutive downswing rally over the last 12 months has been 6 days giving a total rally downward movement of -16.6%. This quarter, the largest downswing rally has been 4 days giving a total rally downward movement of -7.9%. The loss ratio for price rise in the first timeframe for the last 12 months is 0.5x giving a total win/loss ratio of 0.9x. Over the last month the average daily downward movement has been -2.300000%

WGX: Average True Range has confirmed an downtrend @0.053
Average True Range /
WGX: Average True Range has confirmed an downtrend @0.053

[Bearish]: Average True Range has confirmed an downtrend is present. Westgold Resources has a TR of 0.045, and an ATR(14) of 0.053.

WGX Basic Candle: Black
Black Candle /
WGX Basic Candle: Black

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

Woodie Pivot Point /
Westgold Resources: Look for a short limit order entry @$1.498

Westgold Resources has broken the first Woodie support point ($1.498) [Bearish]. Look for a short limit order entry near this point. Exit price for WGX should be set @$1.479 & short position stoploss for Westgold Resources should be set at $1.569

MACD Volume /
Negative momentum on the Volume MACD histogram for WGX has been confirmed & supports a bearish move is likely

[BEARISH CROSSOVER]: Westgold Resources currently has negative Volume MACD of -92404. This means the signal line is less than the Volume MACD line signalling a bearish movement.

Ease of Movement /
Westgold Resources Ease of Movement is -0.066 [Difficult to Move]

WGX: EOM Current Signal -> (1) 17 May: BEARISH HARD (2) 17 May: BEARISH HARD (3) 17 May: BULLISH EASY

Buying pressure for WGX highlights ability of buyers to drive the price upwards
Elder Ray Index /
Buying pressure for WGX highlights ability of buyers to drive the price upwards

[BULLISH]: Westgold Resources Elder Ray Index is signalling a Bullish movementERI is 0.027 indicating bull power. Prices are being driven above the consensus of value for WGX during the last trading session [Buying Pressure]

[Long]: Exit price for WGX should be set @$1.535
Demarks Pivot Points /
[Long]: Exit price for WGX should be set @$1.535

Westgold Resources has broken the first DeMark resistance point ($1.5200) [Bullish]. Look for a long limit order entry near this point. Exit price for WGX should be set @$1.535 & Stoploss for Westgold Resources should be set at $1.49

MACD /
The MACD for WGX is gaining momentum through a rise on the short term EMA

[BULLISH CROSSOVER]: Westgold Resources currently has positive MACD of 0.009. This means the signal line is greater than the MACD line signalling a bullish movement. Currently, the return on MACD is -3.5%.

Range Tod Vs Range Yest /
Sellers have decreased eagerness for WGX reducing strength of a continued downtrend in the first timeframe.

[WEAK BULLISH]: Westgold Resources sellers are becoming less eager. There has been 2 consecutive days of range increase for WGX reducing strength to an uptrend in the first timeframe. The biggest price range this month has been $0.2050 & the greatest daily price range this year has been $0.4300. 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 0.5x.

Closing Price /
Westgold Resources: Daily closing price is $1.52 [Bearish]

WGX: CLOSE Recent Trading -> (1) 17 May: 1.52 (2) 16 May: 1.54 (3) 15 May: 1.575

Westgold Resources: Uptrend for the long term trend is continued
Long Trend /
Westgold Resources: Uptrend for the long term trend is continued

[BULLISH]: Westgold Resources has a medium timeframe uptrend confirmation. This was confirmed through a price breakout on the May 11 2018.

WGX: Stochastic Oscillator has traded above the oversold limit @46.3
Stochastic Oscillator /
WGX: Stochastic Oscillator has traded above the oversold limit @46.3

WGX: Stochastic Oscillator Signal -> (1) 17 May: BULLISH CROSSUNDER (2) 17 May: BEARISH CROSSUNDER (3) 17 May: BEARISH

Oversold signal continues for Westgold Resources indicating upward price movement is likely
Moving Average Envelope /
Oversold signal continues for Westgold Resources indicating upward price movement is likely

[BEARISH]: Westgold Resources current trading has maintained the Envelope Bands to overbought status and signalled the continuation of the bearish trading conditions. Currently, the Upper Band is 1.5855.

Medium Trend /
Westgold Resources has maintained the 2nd timeframe trend [Uptrend]

WGX: Medium Term Recent Trading -> (1) 17 May: Uptrend (2) 16 May: Uptrend (3) 15 May: Uptrend

On Balance Volume /
Recent trading signals Westgold Resources is being accumulated

WGX: OBV Current Signal ->(1) 17 May: BULLISH (2) 16 May: BULLISH (3) 15 May: BULLISH

Daily Volume Index /
Confirmation of Westgold Resources is currently being accumulated via DVI

[BULLISH]: Westgold Resources current accumulation has given strength to the share price and the continuation of bullish trading conditions. Currently, the DVI is 2236.

Simple Moving Average /
Price continues to trade below the Simple Moving Average(5) for WGX

[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 -1.3%.

[Downtrend]: Recent trading for WGX indicates ST trend is likely to continue
Weighted 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 WMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on WMA5 is -1.3%.

PPO continues to signal a continuation of upward price rise for Westgold Resources
Percentage Price /
PPO continues to signal a continuation of upward price rise for Westgold Resources

WGX: PPO Current Signal -> (1) 17 May: BULLISH (2) 16 May: BULLISH (3) 15 May: BULLISH

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

[BULLISH]: Westgold Resources currently has a confirmed uptrend. Price is currently above the displaced moving average for WGX. Currently, the return on DPO20 is -1.3%.

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