GREY:CUDBF - Post by User
Post by
yukon_goldon Dec 18, 2014 10:07am
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Post# 23243886
POP.V Dev 17 2014 - 3 Key Bullish Technical Events
POP.V Dev 17 2014 - 3 Key Bullish Technical EventsPetro One Energy Corp (POP:TSXV)
Technical Event: Bullish Continuation Wedge
Tells Me: After a temporary interruption, the prior uptrend is set to continue. A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend. |
| Event Date: | Dec 17, 2014 | | Opportunity Type: | Intermediate-Term Bullish | | Close Price: | $0.12 | | Target Price Range: | $0.26 - $0.30 | | | | | | Price Period: | Daily | | Volume: | 256,950 | | Pattern Duration: | 18 days | | Inbound Trend Duration: | 22 days | |
Petro One Energy Corp (POP:TSXV)
Technical Event: Bullish Outside Bar
| Tells Me: Selling pressure showing signs of exhaustion; we may see higher prices at least in the short term. An Outside Bar (BULLISH) develops during a strong downtrend, when the trading range completely encompasses the range of the prior bar. This signals an exhaustion of the prior downtrend and potentially a reversal. |
| Event Date: | Dec 17, 2014 | | Opportunity Type: | Short-Term Bullish | | Close Price: | $0.12 | | | Price Period: | Daily | | Volume: | 256,950 | | Inbound Trend Duration: | 5 days | |
Petro One Energy Corp (POP:TSXV)
Technical Event: Bullish Relative Strength Index (RSI)
| Tells Me: For bullish events, we may be seeing higher prices as the price seems to be recovering from oversold as losses on down periods (over the last 14 bars) are no longer overwhelming gains on up periods to the same extent. The opposite is true for bearish events, which signal lower prices ahead as the price seems to be recovering from overbought because up days are no longer overwhelming down days to quite the same extent. RSI measures the strength of an issue compared to its recent history of price change by comparing "up" periods to "down" periods. It is based on the premise that overbought conditions tend to occur after the market has advanced for a disproportionate number of periods. The RSI fluctuates between 0 and 100 with 70 and 30 often used to indicate overbought and oversold levels, and 50 the dividing line indicating the direction of the trend. The RSI should not be confused with relative strength which compares a financial instrument to a market index. |
| Event Date: | Dec 17, 2014 | | Opportunity Type: | Short-Term Bullish | | Close Price: | $0.12 | | | Price Period: | Daily | | Volume: | 256,950 | | The RSI moved above 30. | |