Cardinal Resources (CDV)

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Cardinal Resources (CDV): Signals

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TECHNICAL ANALYSIS SUMMARY

Cardinal Resources (CDV.AX)


Indicator:

WOODIE PIVOT POINT


Signal Strength: MEDIUM
Recommendation:

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


Cardinal Resources (ASX:CDV) current pivot point (Woodie) is:
$0.373.

The current resistance levels are:
(R1) $0.376
(R2) $0.383

The current support levels are:
(S1) $0.366
(S2) $0.363



One of the key differences in calculating Woodies Pivot Point to other pivot points is that the current sessions open price is used in the PP formula with the previous sessions high and low.

Calculation: Woodie Pivot Point:
1) R2 = PP + High – Low;
2) R1 = (2 X PP) – Low;
3) PP = (H + L + 2C) / 4;
4) S1 = (2 X PP) – High;
5) S2 = PP – High + Low – Closing Price – High – Low;


PROFILE: Cardinal Resources (CDV.AX)


Stock Exchange: ASX
Company: Cardinal Resources
Ticker Codes: | CDV.AX | ASX:CDV |

About Cardinal Resources (ASX:CDV):

Cardinal Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral properties in Ghana. It primarily explores for gold deposits. The company's principal project is Namdini Gold project located in the Bolgatanga region. Cardinal Resources Limited is based in West Perth, Australia.

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