Mg Unit Trust (MGC)

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Mg Unit Trust (MGC): Signals

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TECHNICAL ANALYSIS SUMMARY

Mg Unit Trust (MGC.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.


Mg Unit Trust (ASX:MGC) : The current Fibonacci Extension levels are:
(23.61%) $0.3
(38.2%) $0.31
(50%) $0.31
(61.8%) $0.31

The current support levels are:
(78.6%) $0.32
(100%) $0.32
(138.2%) $0.33
(161.8%) $0.33
(261.8%) $0.35
(423.61%) $0.38



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: Mg Unit Trust (MGC.AX)


Stock Exchange: ASX
Company: Mg Unit Trust
Ticker Codes: | MGC.AX | ASX:MGC |

About Mg Unit Trust (ASX:MGC):

MG Unit Trust operates as a special purpose funding vehicle in Australia. It holds interest in subordinated notes and convertible preference shares issued by Murray Goulburn Co-operative Co. Limited. The company was founded in 2015 and is based in Southbank, Australia. MG Unit Trust is a subsidiary of Murray Goulburn Co-Operative Co. Limited.

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