Gascoyne Resources (GCY)

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Gascoyne Resources (GCY): Signals

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TECHNICAL ANALYSIS SUMMARY

Gascoyne Resources (GCY.AX)


Indicator:

ON BALANCE VOLUME


Last Signal:

BEARISH


Trading: SELL @ $0.265
Signal Strength: MEDIUM
Recommendation:

Gascoyne Resources (ASX:GCY) current price has highlighted recent distribution. Currently, the OBV is -842958.


Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading exit. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


On Balance Volume (OBV) attempts to measure the level of accumulation or distribution by comparing volume to price movements. Volume is added to the indicator if closing price moves up and subtracted if closing price moves down. No adjustment is made if closing price is unchanged.

Calculation: On Balance Volume:
1) If the closing price is above the prior close price then: Current OBV = Previous OBV + Current Volume;
2) If the closing price is below the prior close price then: Current OBV = Previous OBV - Current Volume;
3) If the closing prices equals the prior close price then: Current OBV = Previous OBV (no change)


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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On Balance Volume

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