Copper Lake Resources Posts Bullish Hammer & 21-Day MA Copper Lake Resources Ltd forms bullish "Price Crosses Moving Average" chart pattern
Mar 24, 2023
Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on Copper Lake Resources Ltd (CPL:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.09.
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.
Copper Lake Resources Ltd forms bullish "Hammer" chart pattern
Mar 24, 2023
Trading Central has detected a "Hammer" chart pattern formed on Copper Lake Resources Ltd (CPL:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.09.
Tells Me: The price may have reached the bottom of the recent downtrend, having recovered high up from a sharp decline for the session.
The Hammer appears during a downtrend, displaying a long lower shadow with a small real body at the top of the range. The price may be developing a bottom and due for a reversal to the upside.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.