Zeolite Australia (ZEL)

Zeolite Australia (ZEL.AX)

Indicator:

FIBONACCI RETRACTION

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

Zeolite Australia (ASX:ZEL) : The current Fibonacci Retraction levels are:
(23.61%) $5.87
(38.2%) $5.54
(50%) $5.51
(61.8%) $5.47

The current support levels are:
(78.6%) $5.42
(100%) $5.36
(138.2%) $5.25
(161.8%) $5.18
(261.8%) $4.89
(423.61%) $4.42

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: Zeolite Australia (ZEL.AX)

Stock Exchange: ASX
Company: Zeolite Australia
Ticker Codes: | ZEL.AX | ASX:ZEL |

Z Energy Limited sells transport fuel in New Zealand. It supplies fuel to retail customers, as well as commercial customers, such as airlines, trucking companies, mines, shipping companies, and vehicle fleet operators, as well as supplies bitumen to roading contractors. The company also offers Z card and Star card services for businesses to buy fuels. It owns and manages approximately 343 retail service stations; 157 truck stops; 7 electric vehicle charging stations; and pipelines, terminals, and fuel storage terminal infrastructure. The company was formerly known as Greenstone Energy Limited and changed its name to Z Energy Limited in May 2011. Z Energy Limited was incorporated in 1959 and is headquartered in Wellington, New Zealand.