Southern Cross Media (SXL)

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Southern Cross Media (SXL): Signals

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TECHNICAL ANALYSIS SUMMARY

Southern Cross Media (SXL.AX)


Indicator:

FIBONACCI RETRACTION


Signal Strength: MEDIUM
Recommendation:

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


Southern Cross Media (ASX:SXL) : The current Fibonacci Retraction levels are:
(23.61%) $1.03
(38.2%) $1.06
(50%) $1.08
(61.8%) $1.1

The current support levels are:
(78.6%) $1.14
(100%) $1.18
(138.2%) $1.26
(161.8%) $1.3
(261.8%) $1.5
(423.61%) $1.83



A Fibonacci retracement is a term used in technical analysis that refers to areas of support (price stops going lower) or resistance (price stops going higher). Fibonacci retracement levels use horizontal lines to indicate areas of support or resistance at the key Fibonacci levels before the trend continues in the original direction.

Calculation: Fibonacci Retracements:
1) Uptrend: C = B — (B — A) x N%;
2) Downtrend: C = B + (A — B) x N%;
3) Fibonacci Levels:
a) 23.61%;
b) 38.2%;
c) 50%;
d) 61.8%;
e) 78.6%;
f) 100%,


PROFILE: Southern Cross Media (SXL.AX)


Stock Exchange: ASX
Company: Southern Cross Media
Ticker Codes: | SXL.AX | ASX:SXL |

About Southern Cross Media (ASX:SXL):

Southern Cross Media Group Limited engages in the creation and broadcasting of content on free to air commercial radio, TV, and online media platforms in Australia. The company owns 140 radio stations across 68 markets; and owns 19 regional free to air television licenses that cover 30 regional sub markets. It provides online advertising and integration through approximately 85 Websites; and develops microsites, mobile apps, online videos, and social media campaigns for clients. The company was formerly known as Macquarie Media Group. Southern Cross Media Group Limited is based in South Melbourne, Australia.

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