Carindale Property Trust (CDP)

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Carindale Property Trust (CDP): Signals

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TECHNICAL ANALYSIS SUMMARY

Carindale Property Trust (CDP.AX)


Indicator:

FIBONACCI FANS


Signal Strength: MEDIUM
Recommendation:

Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading position.


Carindale Property Trust (ASX:CDP) : The current Fibonacci Fan levels are:
(23.61%) $21.44
: (38.2%) $20.67
: (50%) $20.61
: (61.8%) $20.53

The current support levels are:
(78.6%) $20.4
(100%) $20.27
(138.2%) $20
(161.8%) $19.87
(261.8%) $19.2
(423.61%) $18.11



Fibonacci Fan lines are trend lines based on Fibonacci retracement points. Rising fan lines extend up from a trough and pass through retracement based on the advance (trough to peak). These fan lines can then be used to estimate support levels or potential reversal zones. Falling fan lines extend down from a peak and pass through retracements based on the decline (peak to trough). These fan lines can then be used to estimate resistance levels or potential reversal zones. This article will explain the Fibonacci ratios and provide examples using Fibonacci Fans to project support and resistance.

Calculation: Fibonacci Fans:
1) Uptrend Fan line 1: Drawn from extreme low through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme low through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme low through 50% retracement level on “invisible” vertical line Fan line;
c) Drawn from extreme low through 61.8% retracement level on “invisible” line;
2)Downtrend Fan line 1: Drawn from extreme high through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme high through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme high through 50% low retracement level on “invisible” vertical line;
c) Fan line 4: Drawn from extreme high through 61.8% retracement level on “invisible” vertical line;


PROFILE: Carindale Property Trust (CDP.AX)


Stock Exchange: ASX
Company: Carindale Property Trust
Ticker Codes: | CDP.AX | ASX:CDP |

About Carindale Property Trust (ASX:CDP):

Carindale Property Trust (ASX Code: CDP) was listed on the Australian Stock Exchange in 1996.The Trust's sole investment is a 50% interest in Westfield Carindale, one of Brisbane's largest regional shopping centre at approximately 115,000 square metres.Westfield Carindale currently generates annual sales of $700.6 million through its two department stores, two discount department stores, three supermarkets and over 290 specialty retailers. The Trust is managed by Scentre Management Limited, a member of the Scentre Group. As such, Scentre Management Limited has adopted and is bound by the Group's Corporate Governance Charters and Policies.

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