WAF | Australian Securities Exchange

West African Resources
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The EMA trend following signal is still current for West African Resources [Bearish]
Exponential Moving Average /
The EMA trend following signal is still current for West African Resources [Bearish]

[BEARISH]: West African Resources currently has a confirmed downtrend. Recent trading has caused the EMA 15 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on EMA15 is -4.3%.

Price & volume confirms continued selling pressure for West African Resources is likely
Elders Force Index /
Price & volume confirms continued selling pressure for West African Resources is likely

WAF: Elders Force Index Current Signal -> (1) 18 Jan: BEARISH (2) 17 Jan: BEARISH (3) 16 Jan: BEARISH

Close Tod Vs Close Yest /
Sellers are now keener than buyers for West African Resources & are driving the price down.

[BEARISH]: West African Resourcessellers are keener than buyers and are driving the price down. This is the first day of price decline for WAF adding strength to a downtrend change in the first timeframe. The biggest downward movement this month has been -4.3 & the greatest daily negative change this year has been -4.3. The longest consecutive downswing rally over the last 12 months has been 4 days giving a total rally downward movement of -86.7%. This quarter, the largest downswing rally has been 2 days giving a total rally downward movement of -4.3%. The loss ratio for price decline in the first timeframe for the last 12 months is 0x giving a total win/loss ratio of 0.7x. Over the last month the average daily downward movement has been -3.500000%

Commodity Channel Index /
The current price level for West African Resources is maintained below the average

[BULLISH]: West African Resources (ASX:WAF) current trading has maintained the Commodity Channel Index to oversold status and signalled the continuation of the bullish trading conditions. Currently, the CCI is -164. The bullish signal has been active for 2 days. During the quarter, the lowest CCI value was -164.

Close Tod Vs Range Tod /
West African Resources closed in the lower part of daily range at 0%.

[BEARISH]: West African Resources sellers in control. This is the first day of seller commitment for West African Resources adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 2 trading days with the closing price in the lower part of the range giving a confirmation ratio of 0.8%. Over the last month there has been 2 trading days with the closing price in the lower range giving a confirmation ratio of 15.4%. Currently this quarter, closing price has spent 2 days in the lower price range compared to 4 days in the upper range giving a ratio of 0.5x.

Fibonacci Extensions /
Stoploss for West African Resources should be set at $1.25

West African Resources: The current Fibonacci Extension levels are: (23.61%) $0.23: (38.2%) $0.23: (50%) $0.24: (61.8%) $0.24The current support levels are: (78.6%) $0.24: (100%) $0.25: (138.2%) $0.26: (161.8%) $0.27: (261.8%) $0.29: (423.61%) $0.33

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Rate of Change /
West African Resources: Rate of change (-10)

[BEARISH]: West African Resources currently has negative rate of change of -10%. This means the current price is less than the price 14 days ago and therefore losing momentum & is a leading indicator of price movement in the downward direction

MACD oscillator remains positive for WAF
MACD /
MACD oscillator remains positive for WAF

[BULLISH]: West African Resources currently has positive MACD of 0.0001. This means the signal line is greater than the MACD line signalling a bullish movement.

West African Resources: Current trading activity signals distribution is present
Accumulation / Distribution /
West African Resources: Current trading activity signals distribution is present

[BEARISH]: West African Resources (ASX:WAF) current distribution has given weakness to the share price and the continuation of bearish trading conditions. Currently, the ADLINE is -460001.

Supertrend /
West African Resources has signalled an Supertrend present [Downtrend]

[BEARISH]: West African Resources has a current Supertrend of 0.2575. This has change -0.0025 points from yesterday.

Momentum /
Negative momentum for WAF is a leading indicator for continued price falls

[BEARISH]: West African Resources currently has negative momentum of -0.025 This means the current price is less than the price 14 days ago and therefore losing momentum. Currently, the return on momentum is -4.3%.The largest downward momentum rally for the last 3 months is 7 days producing a return of -2.1%.

Volume Rate of Change /
Positive VROC for West African Resources is a leading indicator for continued price rise

[BULLISH]: West African Resources currently has positive volume of change of 275%. This means the current volume is greater than the price 14 days ago and therefore gaining momentum. Currently, the return on momentum is -4.3%.

DeMark pivot point for WAF is bearish. Stoploss should be positioned @$0.228
Demarks Pivot Points /
DeMark pivot point for WAF is bearish. Stoploss should be positioned @$0.228

West African Resources has broken the first DeMark support point ($0.2263) [Bearish]. Look for a short limit order entry near this point. Exit price for WAF should be set @$0.2230 & short position stoploss for West African Resources should be set at $0.228

Volume MACD oscillator is now positive for WAF
MACD Volume /
Volume MACD oscillator is now positive for WAF

[BULLISH CROSSOVER]: West African Resources currently has positive Volume MACD of 145508. This means the signal line is greater than the Volume MACD line signalling a bullish movement.

Percentage Volume /
West African Resources: Percentage Volume Oscillator (15.13)

[BULLISH CROSSOVER]: West African Resources currently has positive PVO 15.13%. The recent volume is gaining momentum through a rise on the short term exponential moving average. Currently, the return on PVO is 0%.

Elder Ray Index /
West African Resources: Bull power (-0.006) & Bear power (-0.011)

[BEARISH]: West African Resources Elder Ray Index is signalling a Bearish movementERI is -0.011 indicating bear power. Prices are being driven below the consensus of value for WAF during the last trading session [Selling Pressure]

Aroon Oscillator /
West African Resources: Aroon oscillator (-48) has confirmed a downtrend is present

[BEARISH]: West African Resources has a current ARO(25) of -48. This has change -4 points from yesterday.

Triangular Moving Average(15) signal continues for West African Resources indicating downward price movement is likely
Triangular Moving Average /
Triangular Moving Average(15) signal continues for West African Resources indicating downward price movement is likely

[BEARISH]: West African Resources currently has a confirmed downtrend. Recent trading has caused the TMA 15 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on TMA15 is -4.3%.

WAF: Over the last 12 months there has been 2 trading days with the opening price in the upper shadow & the closing the price in the lower shadow
Open Tod Vs Close Tod /
WAF: Over the last 12 months there has been 2 trading days with the opening price in the upper shadow & the closing the price in the lower shadow

[BEARISH STRONG]: West African Resources opened in the upper part of daily range at 100% & closed in the lower part of the trading range at 0%. This suggests the sellers were in control all day. Over the last 12 months there has been 2 trading days with the opening price in the upper shadow & the closing the price in the lower shadow giving a confirmation ratio of 0.8%. Over the last month there has been 2 trading days with the opening price in the lower upper range & the closing the price in the lower price range giving a confirmation ratio of 15.4%.

Simple Moving Average(15) signal continues for West African Resources indicating downward price movement is likely
Simple Moving Average /
Simple Moving Average(15) signal continues for West African Resources indicating downward price movement is likely

[BEARISH]: West African Resources currently has a confirmed downtrend. Recent trading has caused the SMA 15 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on SMA15 is -4.3%.

Weighted Moving Average /
The WMA trend following signal is still current for West African Resources [Bearish]

[BEARISH]: West African Resources currently has a confirmed downtrend. Recent trading has caused the WMA 15 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on WMA15 is -4.3%.

Donchian Channels /
Initiation of Donchian oversold signal for West African Resources [Bullish Crossover]

[BULLISH CROSSOVER]: West African Resources has just become oversold, highlighting the potential for a short term trend reversal in the upward direction.

On Balance Volume /
OBV: Distribution still active for West African Resources

[BEARISH]: West African Resources current price has highlighted recent distribution. Currently, the OBV is -492640.

Bollinger Bands /
Closing price ($0.225) for WAF is still below the Upper Bollinger Band

[BEARISH]: West African Resources is currently Overbought highlighting the potential for a short term trend reversal in the downward direction. The current level is -3.55% with a current width of 12.04.

Initiation of oversold signal for West African Resources [Bearish Crossover]
Moving Average Envelope /
Initiation of oversold signal for West African Resources [Bearish Crossover]

[BEARISH]: West African Resources current trading has maintained the Envelope Bands to oversold status and signalled the continuation of the short trading conditions. Currently, the Lower Band is 0.228.

West African Resources: Stoploss for short position should be set at $0.231
Woodie Pivot Point /
West African Resources: Stoploss for short position should be set at $0.231

West African Resources has broken the first Woodie support point ($0.221) [Bearish]. Look for a short limit order entry near this point. Exit price for WAF should be set @$0.221 & short position stoploss for West African Resources should be set at $0.231

Fibonacci Fans /
West African Resources: 0.618 Fibonacci Fan ($0.24)

West African Resources: The current Fibonacci Fan levels are: (23.61%) $0.23: (38.2%) $0.23: (50%) $0.24: (61.8%) $0.24The current support levels are: (78.6%) $0.24: (100%) $0.25: (138.2%) $0.26: (161.8%) $0.27: (261.8%) $0.29: (423.61%) $0.33

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