Gold Road Resources (GOR)

Gold Road Resources (GOR.AX)

Indicator:

PIVOT POINT

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

Gold Road Resources (ASX:GOR) current pivot point is: $ 0.6.
The current resistance levels are:
(R1) $0.61
(R2) $0.62
(R3) $0.63

The current support levels are:
(S1) $0.59
(S2) $0.58
(S3) $0.57

Pivots Points are significant levels chartists can use to determine directional movement support and resistance. Pivot Points use the prior period’s high low and close to formulate future support and resistance. In this regard Pivot Points are predictive or leading indicators.

Calculation: Pivot Points:
1) Pivot Point (P) = (High + Low + Close)/3;
2) Support 1 (S1) = (P x 2) – High; Support 2 (S2) = P - (High - Low);
3) Resistance 1 (R1) = (P x 2) – Low Resistance 2; (R2) = P + (High - Low);

PROFILE: Gold Road Resources (GOR.AX)

Stock Exchange: ASX
Company: Gold Road Resources
Ticker Codes: | GOR.AX | ASX:GOR |

Gold Road Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral properties in Australia. The company primarily explores for gold deposits. It focuses on developing the Yamarna Belt comprising Gruyere, Central Bore, and Attila projects, which covers an area of 6,000 square kilometers located to the east of Laverton in Western Australia. The company was formerly known as Eleckra Mines Limited and changed its name to Gold Road Resources Limited in November 2010. Gold Road Resources Limited was incorporated in 2007 and is based in West Perth, Australia.