Magellan Financial (MFG)

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Magellan Financial (MFG): Signals

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TECHNICAL ANALYSIS SUMMARY

Magellan Financial (MFG.AX)


Indicator:

FIBONACCI RETRACTION


Signal Strength: MEDIUM
Recommendation:

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


Magellan Financial (ASX:MFG) : The current Fibonacci Retraction levels are:
(23.61%) $25.41
(38.2%) $25.83
(50%) $26.18
(61.8%) $26.52

The current support levels are:
(78.6%) $27
(100%) $27.62
(138.2%) $28.72
(161.8%) $29.41
(261.8%) $32.3
(423.61%) $36.97



A Fibonacci retracement is a term used in technical analysis that refers to areas of support (price stops going lower) or resistance (price stops going higher). Fibonacci retracement levels use horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before the trend continues in the original direction.

Calculation: Fibonacci Retracements:
1) Uptrend: C = B — (B — A) x N%;
2) Downtrend: C = B + (A — B) x N%;
3) Fibonacci Levels:
a) 23.61%;
b) 38.2%;
c) 50%;
d) 61.8%;
e) 78.6%;
f) 100%,


PROFILE: Magellan Financial (MFG.AX)


Stock Exchange: ASX
Company: Magellan Financial
Ticker Codes: | MFG.AX | ASX:MFG |

About Magellan Financial (ASX:MFG):

Magellan Financial Group is a publicly owned investment manager. The firm provide its services to high net worth, retail, and institutional investors. Magellan Financial Group is based in Sydney, Australia.

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