# Mirrabooka (MIR)

Mirrabooka

Fibonacci Fans

#### Mirrabooka (MIR): Signals

No data currently available.

TECHNICAL ANALYSIS SUMMARY

Mirrabooka (MIR.AX)

Indicator:

FIBONACCI FANS

Signal Strength: MEDIUM
Recommendation:

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

Mirrabooka (ASX:MIR) : The current Fibonacci Fan levels are:
(23.61%) \$6.8
: (38.2%) \$6.86
: (50%) \$6.94
: (61.8%) \$7

The current support levels are:
(78.6%) \$7.06
(100%) \$7.17
(138.2%) \$7.34
(161.8%) \$7.48
(261.8%) \$7.95
(423.61%) \$8.71

Fibonacci Fan lines are trend lines based on Fibonacci retracement points. Rising fan lines extend up from a trough and pass through retracement based on the advance (trough to peak). These fan lines can then be used to estimate support levels or potential reversal zones. Falling fan lines extend down from a peak and pass through retracements based on the decline (peak to trough). These fan lines can then be used to estimate resistance levels or potential reversal zones. This article will explain the Fibonacci ratios and provide examples using Fibonacci Fans to project support and resistance.

Calculation: Fibonacci Fans:
1) Uptrend Fan line 1: Drawn from extreme low through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme low through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme low through 50% retracement level on “invisible” vertical line Fan line;
c) Drawn from extreme low through 61.8% retracement level on “invisible” line;
2)Downtrend Fan line 1: Drawn from extreme high through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme high through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme high through 50% low retracement level on “invisible” vertical line;
c) Fan line 4: Drawn from extreme high through 61.8% retracement level on “invisible” vertical line;

PROFILE: Mirrabooka (MIR.AX)

Stock Exchange: ASX
Company: Mirrabooka
Ticker Codes: | MIR.AX | ASX:MIR |

Mirrabooka Investments Limited is a self managed investment company. It invests in the public equity markets of Australia and New Zealand. The firm primarily invests in value stocks of small-cap and mid-cap companies, targeting companies which fall outside the top 50 listed companies, by market capitalization, on the Australian Stock Exchange. It employs fundamental analysis with a bottom-up stock picking approach to create its portfolios. The firm obtains external research to complement its in-house research. It typically invests in companies from industrial, healthcare, information technology, financial, pharmaceuticals, forestry products, residential housing construction and land development, and telecommunication sectors. Mirrabooka Investments Limited was founded in April 1999 and is based in Melbourne, Australia.

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