Pacific Energy (PEA)

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Pacific Energy (PEA): Signals

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TECHNICAL ANALYSIS SUMMARY

Pacific Energy (PEA.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.


Pacific Energy (ASX:PEA) : The current Fibonacci Fan levels are:
(23.61%) $0.55
: (38.2%) $0.48
: (50%) $0.47
: (61.8%) $0.46

The current support levels are:
(78.6%) $0.45
(100%) $0.44
(138.2%) $0.42
(161.8%) $0.4
(261.8%) $0.34
(423.61%) $0.25



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: Pacific Energy (PEA.AX)


Stock Exchange: ASX
Company: Pacific Energy
Ticker Codes: | PEA.AX | ASX:PEA |

About Pacific Energy (ASX:PEA):

Pacific Energy Limited, together with its subsidiaries, develops, builds, operates, and manages electricity generation facilities in Australia. As of September 11, 2017, it owned and operated 21 diesel, gas, and duel-fuelled power stations with a total power generation capacity of approximately 272 MW; and 2 hydro power stations with a combined capacity of 6 MW located in Melbourne, Victoria. The company is based in Landsdale, Australia.

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