Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Fibonacci Extensions

Score

-0.6

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 9 41.4 0.44% 0.80% 7.3% -8.2% -11.6%
SHORT 10 36.1 0.30% 0.43% 7.4% -5.8% -18.2%

Summary

Technical Analysis

Metcash (MTS.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.


Metcash (ASX:MTS) : The current Fibonacci Extension levels are:
(23.61%) $2.72
(38.2%) $2.81
(50%) $2.89
(61.8%) $2.96

The current support levels are:
(78.6%) $3.07
(100%) $3.2
(138.2%) $3.44
(161.8%) $3.59
(261.8%) $4.22
(423.61%) $5.24



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: Metcash (MTS.AX)


Stock Exchange: ASX
Company: Metcash
Ticker Codes: | MTS.AX | ASX:MTS |

About Metcash (ASX:MTS):

Metcash Limited operates as a wholesale distribution and marketing company in Australia and New Zealand. It operates through Food & Grocery, Liquor, and Hardware segments. The Food & Grocery segment distributes a range of products and services to independent supermarket and convenience retail outlets. The Liquor segment engages in the distribution of liquor products to retail outlets and hotels. The Hardware segment distributes hardware products to independent retail outlets; and operates company owned retail stores. The company serves independent retailers in the food, liquor, and hardware sectors. Metcash Limited was founded in 1920 and is based in Macquarie Park, Australia.

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Fibonacci Extensions

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