Brixton Metals Posts Bullish 50 & 21-Day MA Crosses Brixton Metals Corp forms bullish "Price Crosses Moving Average" chart pattern
Aug 16, 2022
Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on Brixton Metals Corp (BBB:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.14.
Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars).
Moving averages are used to smooth out the volatility or "noise" in the price series, to make it easier to discover the underlying trend. By plotting the average price over the last several bars, the line is less "jerky" than plotting the actual prices. A bullish event is generated when the price crosses above the moving average, and in this state, the price is likely in an established uptrend. The opposite is true when the price crosses below the moving average, triggered a bearish event.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Ceylon Graphite Corp forms bullish "Head and Shoulders Bottom" chart pattern
Aug 16, 2022
Trading Central has detected a "Head and Shoulders Bottom" chart pattern formed on Ceylon Graphite Corp (CYL:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.14 to the range of $0.17 - $0.18. The pattern formed over 44 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.
The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline (drawn between the two highs) to confirm the reversal.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.