Mount Gibson Iron (MGX.AX)
MONEY FLOW INDEX
Trading: HOLD @ $0.585
Signal Strength: MEDIUM
Mount Gibson Iron (ASX:MGX) current trading has maintained the money flow index oversold status and signalled the continuation of the bullish trading conditions. Currently, the MFI is 81.96. The bullish signal has been active for 0 days. During the quarter, the lowest MFI value was 3.69.
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.
Money Flow Index (MFI) is a volume-based indicator it could be used in technical analysis to measure the strength of money flow in and out of a security index and market. The principle of MFI calculation is a comparison of positive money flow to negative money flow. MFI is also known as volume-weighted RSI. MFI starts with the typical price for each period. The same as RSI the MFI scale is between 0 and 100.
Calculation: Money Flow Index (MFI):
1) Typical Price = (High + Low + Close)/3;
2) Raw Money Flow = Typical Price x Volume;
3) Money Flow Ratio = (14-period Positive Money Flow)/(14-period Negative Money Flow);
4) Money Flow Index = 100 - 100/(1 + Money Flow Ratio)
PROFILE: Mount Gibson Iron (MGX.AX)
Stock Exchange: ASX
Company: Mount Gibson Iron
Ticker Codes: | MGX.AX | 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.
Money Flow IndexDownload
|RHL Ruralco Holdings||3.12||7.2||361,827||88.4||BULLISH|
|RND Rand Mining||2.43||1.7||9,234||85.5||BULLISH|
|PNC Pioneer Credit||3.19||1.3||5,204||80.35||BULLISH|
|SLK Sealink Travel||4.33||0.9||27,568||81.12||BULLISH|
|AQG Alacer Gold Corp||2.34||0.9||250,340||84.29||BULLISH|
|EQT Equity Trustees||22.98||-0.1||3,010||92.29||BULLISH|
|ZEL Zeolite Australia||5.46||-0.4||1,046||89.41||BULLISH|