Mount Gibson Iron (MGX)

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Mount Gibson Iron (MGX): Signals

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TECHNICAL ANALYSIS SUMMARY

Mount Gibson Iron (MGX.AX)


Indicator:

ACCUMULATION DISTRIBUTION


Last Signal:

BULLISH


Trading: HOLD @ $0.585
Signal Strength: MEDIUM
Recommendation:

Mount Gibson Iron (ASX:MGX) current accumulation has given strength to the share price and the continuation of bullish trading conditions. Currently, the ADLINE is 266309. day. During the quarter, the highest ADLINE value was 366689.


Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


Accumulation/distribution (ADLINE) is a momentum indicator that attempts to gauge supply and demand by determining whether investors are generally accumulating or buying or distributing or selling a certain stock by identifying divergences between stock price and volume flow. The accumulation/distribution is calculated by first calculating the money flow multiplier then multiplying the money flow multiplier by the period’s volume.

Calculation: Accumulation Distribution Line:
1) Money Flow Multiplier = [(close - low) - (high - close)] / (high - low);
2) Money Flow Volume = Money Flow Multiplier x volume for the period;
3) Accumulation/Distribution= previous Accumulation/Distribution + current periods Money Flow Volume.


PROFILE: Mount Gibson Iron (MGX.AX)


Stock Exchange: ASX
Company: Mount Gibson Iron
Ticker Codes: | MGX.AX | ASX:MGX |

About Mount Gibson Iron (ASX:MGX):

Mount Gibson Iron Limited, together with its subsidiaries, engages in the mining, exploration, crushing, development, transportation, and sale of hematite iron ore deposits in Australia. The company primarily operates the Koolan Island hematite mine situated in the Kimberley coast of Western Australia; and the Extension Hill hematite project located in the Mount Gibson range in the mid-west region of Western Australia. Mount Gibson Iron Limited was founded in 1996 and is based in West Perth, Australia.

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