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Bullboard - Stock Discussion Forum Copper Lake Resources Ltd. V.CPL

Alternate Symbol(s):  WTCZF

Copper Lake Resources Ltd. is a metals exploration company. It is focused on acquiring, exploring, and developing exploration and evaluation assets in Canada. Its portfolio includes the Marshall Lake VMS Copper, Zinc and Silver property west of Lake Nipigon and the Ring of Fire Norton Lake Nickel, Copper, Cobalt, Palladium and Platinum property both located in Northwest Ontario. It holds 79.45%... see more

TSXV:CPL - Post Discussion

Copper Lake Resources Ltd. > Copper Lake Resources forms bullish Commodity Channel Index
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Post by yukon_gold on Sep 27, 2022 9:52am

Copper Lake Resources forms bullish Commodity Channel Index

Sep 26, 2022

Trading Central has detected a "Commodity Channel Index" chart pattern formed on Copper Lake Resources Ltd (CPL:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.07.

Tells Me: The price is relatively far from its 20-bar average price.

The Commodity Channel Index (CCI) measures the deviation of the price from its average value (comparing to a chosen moving average, typically 20 bars). The oscillator is normalized by dividing by the typical deviation, so we get an oscillator fluctuating roughly between +100 and -100. Many traders use these as overbought(+100)/oversold(-100) markers and watch for signs of reversal, but original use was to consider long positions when CCI is above +100 (bullish event), and short when below -100 (bearish event). When the price crosses back in between +100 and -100, another event is triggered to indicate an end to the prior bullish or bearish situation and a possible opportunity to close out such a position.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.

Price Chart - Copper Lake Resources Ltd
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