Danakali (DNK)

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Danakali (DNK): Signals

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TECHNICAL ANALYSIS SUMMARY

Danakali (DNK.AX)


Indicator:

COMMODITY CHANNEL INDEX


Last Signal:

BULLISH CROSSOVER


Trading: BUY @ $0.755
Signal Strength: STRONG
Recommendation:

Danakali (ASX:DNK) current price has driven Commodity Channel Index to become oversold signalling the start of bullish trading conditions. Currently, the CCI is 15. During the quarter, the lowest CCI value was -150. The last oversold signal occurred on Jan 23 2019


A bullish crossover has been confirmed due the last trading session with is a strong indication of a diretional change. This indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


The Commodity Channel Index indicator takes a security’s change in price and compares that to its average change in price. CCIs calculation produces positive and negative values that oscillate above and below a Zero Line. Typically a value of 100 is identified as overbought and a reading of -100 is identified as being oversold.

Calculation: 20 Period CCI:
1) CCI = (Typical Price - 20 Period SMA of TP) / (.015 x Mean Deviation);
2) Typical Price (TP) = (High + Low + Close)/3;


PROFILE: Danakali (DNK.AX)


Stock Exchange: ASX
Company: Danakali
Ticker Codes: | DNK.AX | ASX:DNK |

About Danakali (ASX:DNK):

Danakali Limited engages in the exploration of minerals in Eritrea, East Africa. It primarily holds interests in the Colluli potash project located in the Danakil region of Eritrea. The company was formerly known as South Boulder Mines Ltd. and changed its name to Danakali Limited in June 2015. Danakali Limited is based in Subiaco, Australia.

Top 10:

Commodity Channel Index

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Company Close Change (%) Volume Value Signal
TZN Terramin Australia 0.09 9.8 14,570 126 BULLISH
MVP Medical Developments 3.91 7.4 111,742 2 BULLISH
ISU Iselect 0.8 6.7 159,619 71 BULLISH
FDV Frontier Digital Ventures 0.51 6.3 308,940 67 BULLISH
VTG Vita 1.39 4.9 555,719 142 BULLISH
IFN IFN 0.51 4.1 1,616,892 27 BULLISH
CNI Centuria Capital 1.41 4.1 235,309 160 BULLISH
LNG Liquefied Natural Gas 0.5 3.1 672,534 132 BULLISH
REA REA Group 78.02 2.7 262,416 14 BULLISH
WGX Westgold Resources 1.13 2.7 685,774 38 BULLISH
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