Ridley Corporation (RIC)

Ridley Corporation (RIC.AX)

Indicator:

FIBONACCI EXTENSION

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

Ridley Corporation (ASX:RIC) : The current Fibonacci Extension levels are:
(23.61%) $1.41
(38.2%) $1.4
(50%) $1.39
(61.8%) $1.38

The current support levels are:
(78.6%) $1.37
(100%) $1.36
(138.2%) $1.33
(161.8%) $1.31
(261.8%) $1.23
(423.61%) $1.11

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: Ridley Corporation (RIC.AX)

Stock Exchange: ASX
Company: Ridley Corporation
Ticker Codes: | RIC.AX | ASX:RIC |

Ridley Corporation Limited, together with its subsidiaries, provides animal nutrition solutions in Australasia. It operates through two segments, AgriProducts and Property. The company provides its animal nutrition solutions to food producers in dairy, poultry, pig, aquaculture, sheep, and beef industries; laboratory animals in the research sector; and the equine and canine markets in the recreational sector. Its animal meals include meat and bone meal, poultry meal, hydrolysed feather meal, blood meal, fish meal, and animal fats. The company offers its products primarily under the Barastoc, Rumevite, Cobber, and Primo brands. It is also involved in the sale of residual properties. The company was founded in 1987 and is headquartered in Melbourne, Australia.