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Bullboard - Stock Discussion Forum iMetal Resources Inc V.IMR

Alternate Symbol(s):  IMRFF

Metals & Mining Industrial Metals & Minerals
iMetal Resources, Inc. is a Canadian junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. The Company’s projects include Gowganda, Ghost Mountain and Carheil. The Company’s flagship property, Gowganda West, is an exploration-stage gold project and is located within the Shining Tree Camp area in the southern part of... see more

TSXV:IMR - Post Discussion

iMetal Resources Inc > iMetal Resources Inc forms bullish "Momentum" chart pattern
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Post by yukon_gold on Mar 03, 2022 10:02pm

iMetal Resources Inc forms bullish "Momentum" chart pattern

Mar 03, 2022

Trading Central has detected a "Momentum" chart pattern formed on iMetal Resources Inc (IMR:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.14.

Tells Me: For bullish events, upward momentum has just built up with the latest price now trading higher than the price 10 bars ago. The opposite is true for bearish events where we're seeing downward momentum now that the price is trading lower than 10 bars ago.

Momentum measures the velocity of price changes. For a 10-bar momentum, we take the difference between the last bar's close and the close 10 bars ago and we plot this as a line fluctuating above and below 0 which can be used as buy and sell signals when in agreement with prevailing trend analysis. Momentum is significant because it signals the strength of price trends. A healthy price trend tends to exhibit strong momentum, while weakening trends often have decreasing momentum indicating a trend reversal or correction.

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

Price Chart - iMetal Resources Inc

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