Delphx Capital Markets Inc forms bullish "Slow Stochastic" chart pattern
Feb 23, 2024
Trading Central has detected a "Slow Stochastic" chart pattern formed on Delphx Capital Markets Inc (DELX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.15.
Tells Me: When the event is bullish, we may be facing higher prices as the price has risen out of oversold (%K crossed below 20 then rose again) and starting to trade higher up in the recent 14-bar high-to-low range (%K crossed above %D). The opposite is true for bearish events, where the price has fallen out of overbought and starting to trade lower in the recent high-to-low range.
Stochastics is built on the premise that as prices increase, "close" prices tend to be closer to the upper end of the recent price range, and vice versa. The raw %K number looks at the most recent "close" price as a percentage of the high-to-low price range over a specified period of time (14 bars) but in Slow Stochastics %K is actually a 3-bar moving average of the raw %K to make it a bit less reactive to the latest price. When %K is high, it's likely we're seeing upward pressure, and vice versa. %D is a 3-bar moving average of %K and is used as a signal line, indicating whether prices are starting to trade lower or higher within the recent high-to-low range. Both lines fluctuate between 0 and 100 with 20 and 80 often used to identify oversold and overbought conditions.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Delphx Capital Markets Inc forms bullish "Price Crosses Moving Average" chart pattern
Feb 23, 2024
Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on Delphx Capital Markets Inc (DELX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.15.
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.