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

-0.25

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 7 40.3 0.14% 0.17% 18.7% -8.4% -32.0%
SHORT 8 61.3 0.63% 1.00% 7.7% -4.1% 18.3%

Summary

Technical Analysis

Somnomed (SOM.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.


Somnomed (ASX:SOM) : The current Fibonacci Extension levels are:
(23.61%) $1.71
(38.2%) $1.73
(50%) $1.75
(61.8%) $1.77

The current support levels are:
(78.6%) $1.8
(100%) $1.83
(138.2%) $1.89
(161.8%) $1.93
(261.8%) $2.09
(423.61%) $2.35



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: Somnomed (SOM.AX)


Stock Exchange: ASX
Company: Somnomed
Ticker Codes: | SOM.AX | ASX:SOM |

About Somnomed (ASX:SOM):

SomnoMed Limited, together with its subsidiaries, produces and sells devices for the oral treatment of sleep related disorders in Australia and internationally. Its products include SomnoDent oral appliance for obstructive sleep apnea; and SomnoBrux, a mouthguard, which protects patient's from teeth grinding damage, as well as SomTabs for cleaning its devices. The company was founded in 2004 and is based in Crows Nest, Australia.

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Fibonacci Extensions

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