In technical analysis of securities trading the stochastic oscillator is a momentum indicator that uses support and resistance levels. Dr George Lane developed this indicator in the late 1950s. The term stochastic refers to the point of a current price in relation to its price range over a period of time. This method attempts to predict price turning points by comparing the closing price of a security to its price range.
Calculation: Stochastic Oscillator:
1) %K = (Current Close - Lowest Low)/(Highest High - Lowest Low) * 100;
2) %D = 3-day SMA of %K Lowest Low = lowest low for the look-back period Highest High = highest high for the look-back period %K is multiplied by 100 to move the decimal point two places;
PROFILE: Eastern Goldfields (EGS.AX)
Stock Exchange: ASX
Company: Eastern Goldfields
Ticker Codes: | EGS.AX | ASX:EGS |
Eastern Goldfields Limited operates as a gold exploration and production company primarily in Australia. It owns 100% interest in the Davyhurst and the Mt Ida gold projects, which are located to the north-west of Kalgoorlie. It also holds interests in Siberia, Riverina, Callion, Waihi, and LOI projects. The company was formerly known as Swan Gold Mining Limited and changed its name to Eastern Goldfields Limited in December 2015. Eastern Goldfields Limited is based in Balcatta, Australia.
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