Lucky Minerals Inc V.LKY

Lucky Minerals Inc forms bullish "MACD" chart pattern

[yukon_gold]

Jan 31, 2022

Trading Central has detected a "MACD" chart pattern formed on Lucky Minerals Inc (LKY:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.07.

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.

[Buckmaster1]

.065 Now  With all the great news you would think lky would be gaining.

[Rainyday]

I guess a big seller is raising cash today for some other purpose. I own some shares - highly speculative of course - but I lived for a while in Ecuador some years ago and knew of this area by the stories told by people there. Which doesn't prove anything other than it's a very reasonable place to be doing exploration.

[Buckmaster1]

Thanks for your input. I have quite a number of shares, fingers crossed.

[Rainyday]

I'm not a technical trader - I wonder if MACD is really a strong indicator given that the volumes traded on any given day in this stock (and many penny stocks) can vary tremendously - as is happening today. Any comments about technical analysis with a stock such as this?