Brixton Metals Corp forms bullish "Diamond Bottom" chart pattern
Nov 04, 2022
Trading Central has detected a "Diamond Bottom" chart pattern formed on Brixton Metals Corp (BBB:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.20 to the range of $0.39 - $0.43. The pattern formed over 63 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 a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation.
The Diamond Bottom pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks upward out of the diamonds boundary lines, it marks a significant reversal to a new uptrend.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Brixton Metals Corp forms bullish "Price Crosses Moving Average" chart pattern
Nov 04, 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 $0.20.
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.