Bullboard - Stock Discussion Forum Max Resource Corp V.MAX

Alternate Symbol(s): MXROF

Metals & Mining Industrial Metals & Minerals

Max Resource Corp. is a Canada-based mineral exploration company. The Company is engaged in the acquisition and exploration of mineral properties in South America and Canada. The Company is engaged in advancing its CESAR copper-silver project in Colombia and the RT Gold project in Peru. Its CESAR copper-silver project is located in northeastern Colombia and lies along the northern portion of... see more

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Max Resource Corp > Max Resource Corp forms bullish "Continuation Wedge" chart

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Post by yukon_gold on Jul 26, 2022 8:59pm

Max Resource Corp forms bullish "Continuation Wedge" chart

Jul 26, 2022

Trading Central has detected a "Continuation Wedge (Bullish)" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.38 to the range of $0.53 - $0.57. The pattern formed over 21 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: After a temporary interruption, the prior uptrend is set to continue.

A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.

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