Galaxy Resources

Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Woodie Pivot Point

Score

0.8

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 51 7.0 0.45% 0.82% 6.3% -4.0% 31.8%
SHORT 51 9.1 0.47% 0.83% 6.9% -3.7% 59.7%

Summary

Technical Analysis

Galaxy Resources (GXY.AX)


Indicator:

WOODIE PIVOT POINT


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) current pivot point (Woodie) is:
$1.321.

The current resistance levels are:
(R1) $1.357
(R2) $1.376

The current support levels are:
(S1) $1.302
(S2) $1.266



One of the key differences in calculating Woodies Pivot Point to other pivot points is that the current sessions open price is used in the PP formula with the previous sessions high and low.

Calculation: Woodie Pivot Point:
1) R2 = PP + High – Low;
2) R1 = (2 X PP) – Low;
3) PP = (H + L + 2C) / 4;
4) S1 = (2 X PP) – High;
5) S2 = PP – High + Low – Closing Price – High – Low;


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.

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Woodie Pivot Point

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