yukon_gold wrote: Dolly Varden Silver Corp forms bullish "Bottom Triangle" chart pattern
Jul 08, 2022
Trading Central has detected a "Bottom Triangle" chart pattern formed on Dolly Varden Silver Corp (DV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.69 to the range of $0.96 - $1.02. The pattern formed over 41 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.
A Bottom Triangle shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks above the upper trendline with a noticeable increase in volume, confirming this bullish pattern as a reversal of the prior downtrend.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Dolly Varden Silver Corp forms bullish "MACD" chart pattern
Jul 08, 2022
Trading Central has detected a "MACD" chart pattern formed on Dolly Varden Silver Corp (DV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.69.
The MACD (Moving Average Convergence Divergence) plots the difference between a shorter-term (12-bar) and a longer-term (26-bar) exponential moving average (EMA). Bullish and bearish events are generated respectively as the MACD fluctuates above and below zero to indicate whether prices in the shorter term are stronger or weaker than the longer term average.
A 9-period EMA of the MACD is overlayed as a "signal line" which smooths out the MACD to provide a clearer view of whether it's moving upward or downward. A bullish event is generated when the MACD crosses above the signal line, showing that the current MACD is actually higher than its average, a sign of increasing strength for the price. The opposite is true for bearish events which signal decreasing strength in price as the MACD crosses below the signal line showing that it's now below average.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.