Reliance Worldwide Corporation

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 Fans

Score

-1.5

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 13 21.9 0.38% 0.63% 2.9% -3.3% -12.0%
SHORT 14 32.1 0.14% 0.17% 8.4% -6.7% -64.2%

Summary

Technical Analysis

Reliance Worldwide Corporation (RWC.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.


Reliance Worldwide Corporation (ASX:RWC) : The current Fibonacci Fan levels are:
(23.61%) $12.26
: (38.2%) $12.54
: (50%) $12.75
: (61.8%) $12.95

The current support levels are:
(78.6%) $13.27
(100%) $13.65
(138.2%) $14.34
(161.8%) $14.75
(261.8%) $16.55
(423.61%) $19.45



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: Reliance Worldwide Corporation (RWC.AX)


Stock Exchange: ASX
Company: Reliance Worldwide Corporation
Ticker Codes: | RWC.AX | ASX:RWC |

About Reliance Worldwide Corporation (ASX:RWC):

Reliance Worldwide Corporation Limited designs, manufactures, and supplies water control systems and plumbing solutions for domestic, commercial, and industrial applications. It primarily offers push-fit plumbing fittings under the SharkBite name; water control valves, including thermostatic mixing valves, combination non-return and isolating valves, pressure and temperature relief valves, and expansion control valves under the RMC brand; water safety valves under the Cash Acme name; and water control devices under the Reliance Water Controls name. The company also provides a range of water meters for hot and cold water applications under the RMC brand; backflow prevention devices, such as hose connection vacuum breakers, dual check valves, vented dual checks, and atmospheric vacuum breakers under the Cash Acme name; industrial products comprising compression fittings, couplings, adaptors, and ball valves under the TubeFit name for industrial-grade plumbing and gas line applications; and industrial fittings under the Titon brand. In addition, it offers custom forged products, including building products, water meter bodies, and other custom forgings; custom extrusions; brass plumbing fittings; and fire plumbing products, such as hydrant valves, boosters, standpipes, and couplings. The company provides plumbing solutions to businesses and households, as well as supplies hot water systems to manufacturers, plumbing distributors, government bodies, and other industries. It has operations in Australia, New Zealand, the United States, Canada, the United Kingdom, and Spain. Reliance Worldwide Corporation was founded in 1949 and is based in Melbourne, Australia.

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