Gascoyne Resources (GCY)

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Gascoyne Resources (GCY): Signals

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TECHNICAL ANALYSIS SUMMARY

Gascoyne Resources (GCY.AX)


Indicator:

DONCHIAN CHANNELS


Last Signal:

BEARISH


Trading: SELL @ $0.105
Signal Strength: STRONG
Recommendation:

Indicator is best used in conjunction with additional indicators as it has the ability to highlight potential overbought or oversold levels. This indicator utilizes upper and lower bands to visually represent price extremes associated with the bands. Additional value can be added to the trading strategy by accessing divergences between price and volume.


Gascoyne Resources (ASX:GCY) is currently bearish highlighting the potential for a short term trend continuation in the downward direction.



The Donchian channel is a useful indicator for seeing the volatility of a market price. If a price is stable the Donchian channel will be relatively narrow. If the price fluctuates a lot the Donchian channel will be wider. The two outer bands are plotted as the highest high and lowest low for a set period originally 20 days with the optional middle band calculated as the average of the two.

Calculation: Donchian Channels:
1) Upper Channel = 20 Day High;
2) Lower Channel = 20 Day Low;
3) Middle Channel = (20 Day High + 20 Day Low)/2;


PROFILE: Gascoyne Resources (GCY.AX)


Stock Exchange: ASX
Company: Gascoyne Resources
Ticker Codes: | GCY.AX | ASX:GCY |

About Gascoyne Resources (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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