Karoon Gas Australia (KAR)

Karoon Gas Australia (KAR.AX)

Indicator:

FIBONACCI EXTENSION

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

Karoon Gas Australia (ASX:KAR) : The current Fibonacci Extension levels are:
(23.61%) $0.98
(38.2%) $0.95
(50%) $0.93
(61.8%) $0.9

The current support levels are:
(78.6%) $0.87
(100%) $0.83
(138.2%) $0.75
(161.8%) $0.7
(261.8%) $0.5
(423.61%) $0.17

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: Karoon Gas Australia (KAR.AX)

Stock Exchange: ASX
Company: Karoon Gas Australia
Ticker Codes: | KAR.AX | ASX:KAR |

Karoon Gas Australia Ltd operates as an oil and gas exploration company in Australia, Brazil, and Peru. It has a working interest in two off-shore permits in the Browse and Carnarvon basins located to the north Western Australian coastline covering a combined area of 15,492 square kilometers. The company also holds working interest in five offshore blocks in the Santos Basin located in the State of Santa Catarina covering an area of 549 square kilometers. In addition, the company has a working interest in an off-shore block in the Tumbes Basin located approximately to the north-west coast of Peru covering an area of 4,750 square kilometers. The company was incorporated in 2003 and is headquartered in Mount Martha, Australia.