Max Resource Corp forms bullish "Williams %R" chart pattern
Jun 16, 2023
Trading Central has detected a "Williams %R" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.12.
Tells Me: For bullish events, we seem to be in a new uptrend now that the price has recovered from oversold (dropped below -80 then rose above). The opposite is true for bearish events where we seem to be in a new downtrend now that the price has recovered from overbought. Meanwhile there is clear evidence that the trend has reversed (continued through the -50 level).
Williams %R 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 oscillator 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) so when %R is high, it's likely we're seeing upward pressure, and vice versa. The line fluctuates between 0 and -100 with -20 and -80 often used to identify overbought and oversold conditions.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Max Resource Corp forms bullish "Two Bar Reversal" chart pattern
Jun 16, 2023
Trading Central has detected a "Two Bar Reversal (Bullish)" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.12.
Tells Me: Selling pressure showing signs of exhaustion; we may see higher prices at least in the short term.
A Two-Bar Reversal (Bullish) forms during a prolonged downtrend and involves two exceptionally wide bars reflecting a change in psychology. The first bar develops strongly in the direction of the downtrend, though developing a wide range hinting at an underlying shift. The second bar opens near the previous low as sellers come into the session expecting more of the same, but they are ultimately disappointed as the price closes up very close to the high of the previous bar.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Max Resource Corp forms bullish "Slow Stochastic" chart pattern
Jun 16, 2023
Trading Central has detected a "Slow Stochastic" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.12.
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.
Max Resource Corp forms bullish "Relative Strength Index" chart pattern
Jun 16, 2023
Trading Central has detected a "Relative Strength Index (RSI)" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.12.
Tells Me: For bullish events, we may be seeing higher prices as the price seems to be recovering from oversold as losses on down periods (over the last 14 bars) are no longer overwhelming gains on up periods to the same extent. The opposite is true for bearish events, which signal lower prices ahead as the price seems to be recovering from overbought because up days are no longer overwhelming down days to quite the same extent.
RSI measures the strength of an issue compared to its recent history of price change by comparing "up" periods to "down" periods. It's based on the premise that overbought conditions tend to occur after the market has advanced for a disproportionate number of periods. The RSI fluctuates between 0 and 100 with 70 and 30 often used to indicate overbought and oversold levels, and 50 the dividing line indicating the direction of the trend. The RSI should not be confused with relative strength which compares a financial instrument to a market index.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Max Resource Corp forms bullish "Price Crosses Moving Average" chart pattern
Jun 16, 2023
Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.12.
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.
Max Resource Corp forms bullish "MACD" chart pattern
Jun 16, 2023
Trading Central has detected a "MACD" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.12.
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.