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:

PIVOT POINT


Signal Strength: MEDIUM
Recommendation:

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


Mount Gibson Iron (ASX:MGX) current pivot point is: $ 0.586.
The current resistance levels are:
(R1) $0.595
(R2) $0.604
(R3) $0.613

The current support levels are:
(S1) $0.577
(S2) $0.568
(S3) $0.559



Pivots Points are significant levels chartists can use to determine directional movement support and resistance. Pivot Points use the prior period’s high low and close to formulate future support and resistance. In this regard Pivot Points are predictive or leading indicators.

Calculation: Pivot Points:
1) Pivot Point (P) = (High + Low + Close)/3;
2) Support 1 (S1) = (P x 2) – High; Support 2 (S2) = P - (High - Low);
3) Resistance 1 (R1) = (P x 2) – Low Resistance 2; (R2) = P + (High - Low);


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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