Danakali (DNK)

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Danakali (DNK): Signals

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TECHNICAL ANALYSIS SUMMARY

Danakali (DNK.AX)


Indicator:

FIBONACCI RETRACTION


Signal Strength: MEDIUM
Recommendation:

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


Danakali (ASX:DNK) : The current Fibonacci Retraction levels are:
(23.61%) $0.79
(38.2%) $0.7
(50%) $0.69
(61.8%) $0.68

The current support levels are:
(78.6%) $0.67
(100%) $0.65
(138.2%) $0.62
(161.8%) $0.6
(261.8%) $0.52
(423.61%) $0.39



A Fibonacci retracement is a term used in technical analysis that refers to areas of support (price stops going lower) or resistance (price stops going higher). Fibonacci retracement levels use horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before the trend continues in the original direction.

Calculation: Fibonacci Retracements:
1) Uptrend: C = B — (B — A) x N%;
2) Downtrend: C = B + (A — B) x N%;
3) Fibonacci Levels:
a) 23.61%;
b) 38.2%;
c) 50%;
d) 61.8%;
e) 78.6%;
f) 100%,


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.

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