Galaxy Resources (GXY)

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Galaxy Resources (GXY): Signals

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TECHNICAL ANALYSIS SUMMARY

Galaxy Resources (GXY.AX)


Indicator:

FIBONACCI EXTENSION


Signal Strength: MEDIUM
Recommendation:

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


Galaxy Resources (ASX:GXY) : The current Fibonacci Extension levels are:
(23.61%) $2.67
(38.2%) $2.56
(50%) $2.47
(61.8%) $2.37

The current support levels are:
(78.6%) $2.24
(100%) $2.08
(138.2%) $1.79
(161.8%) $1.6
(261.8%) $0.83
(423.61%) $-0.41



Fibonacci extensions are used in Fibonacci retracement to predict spaces of resistance and support in the market. These extensions involve all levels drawn past the basic 100% level they are frequently used by traders to determine areas that will bring in profits.

Calculation: Fibonacci Extensions:
1) Uptrend: D = B — (A — B) x N%;
2) Downtrend: D = B + (B — A) x N %;
3) Fibonacci Levels:
61.8%
100%
138.2%
161.8%
261.8%
423.6%;


PROFILE: Galaxy Resources (GXY.AX)


Stock Exchange: ASX
Company: Galaxy Resources
Ticker Codes: | GXY.AX | ASX:GXY |

About Galaxy Resources (ASX:GXY):

Galaxy Resources Limited engages in the production of lithium concentrate, and exploration of minerals in Australia, Canada, and Argentina. The company holds interests in the Sal de Vida brine project in Argentina; the Mt Cattlin spodumene mine in Western Australia; and the James Bay spodumene project in Quebec, Canada. Galaxy Resources Limited is based in Applecross, Australia.

Top 10:

Fibonacci Extensions

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