Eastern Goldfields (EGS)

Eastern Goldfields (EGS.AX)

Indicator:

FIBONACCI RETRACTION

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

Eastern Goldfields (ASX:EGS) : The current Fibonacci Retraction levels are:
(23.61%) $0
(38.2%) $0
(50%) $0
(61.8%) $0

The current support levels are:
(78.6%) $0
(100%) $0
(138.2%) $0
(161.8%) $0
(261.8%) $0
(423.61%) $0

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: 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.