Gascoyne Resources (GCY.AX)
Trading: SELL @ $0.05
Signal Strength: MEDIUM
Gascoyne Resources (ASX:GCY) currently has negative momentum of -0.05 This means the current price is less than the price 14 days ago and therefore losing momentum.
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has the ability to detect the speed of movement & give an early signal for a potential movement. By understanding the rate at which the price is moving in respect to the stocks historical trades, enables positions to be set in place based on changes in the speed of movement
Momentum measures the rate of change in closing prices and is used to detect trend weakness and likely reversal points. It is often underrated because of its simplicity. High Momentum readings (positive or negative) occur when a trend is at its strongest. Lower readings are found at the start and end of trends. Overbought and oversold levels are set separately for each security based on the performance of the indicator over past cycles.
Calculation: Momentum Oscillator (MOM):
1) Closing Price [today] - Closing Price [n days ago];
PROFILE: Gascoyne Resources (GCY.AX)
Stock Exchange: ASX
Company: Gascoyne Resources
Ticker Codes: | GCY.AX | ASX:GCY |
Gascoyne Resources Limited engages in the exploration and development of gold and base metal projects in Australia. The company holds a 100% interest in the Dalgaranga gold project covering 780 square kilometers of area located in the Murchison region of Western Australia; a 100% interest in the Glenburgh gold project covering 2,000 square kilometers of area located in the Southern Gascoyne region of Western Australia; and a 100% interest in the Egerton gold project covering 450 square kilometers of area located in the Southern Gascoyne region of Western Australia. It also controls various tenements and tenement applications in the Murchison, Pilbara, and Gascoyne regions of Western Australia. The company was founded in 2009 and is headquartered in West Perth, Australia.
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