Pioneer Credit (PNC)

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Pioneer Credit (PNC): Signals

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TECHNICAL ANALYSIS SUMMARY

Pioneer Credit (PNC.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.


Pioneer Credit (ASX:PNC) : The current Fibonacci Fan levels are:
(23.61%) $7.68
: (38.2%) $7.96
: (50%) $8.19
: (61.8%) $8.42

The current support levels are:
(78.6%) $8.77
(100%) $9.2
(138.2%) $9.98
(161.8%) $10.44
(261.8%) $12.45
(423.61%) $15.73



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: Pioneer Credit (PNC.AX)


Stock Exchange: ASX
Company: Pioneer Credit
Ticker Codes: | PNC.AX | ASX:PNC |

About Pioneer Credit (ASX:PNC):

Pioneer Credit Limited provides financial services in Australia. The company acquires and services unsecured retail debt portfolios. It is also involved in introducing brokered personal credit and loan products. The company is headquartered in Perth, Australia.

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