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Bullboard - Stock Discussion Forum Universal Copper Ltd V.UNV

Universal Copper Ltd. is a Canada-based copper exploration company focused on the acquisition and exploration of copper properties. Its focus is on advancing the Poplar Copper Project, which covers over 61,566 hectares, located 35 kilometers (km) from the Huckleberry Mine and 42 km from Equity Silver Mine. It hosts an undiluted indicated mineral resource of 152.3 million tons grading 0.32... see more

TSXV:UNV - Post Discussion

Universal Copper Ltd > Universal Copper Ltd forms bullish "Commodity Channel Index"
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Post by yukon_gold on Jan 17, 2022 8:49pm

Universal Copper Ltd forms bullish "Commodity Channel Index"

Jan 17, 2022

Trading Central has detected a "Commodity Channel Index" chart pattern formed on Universal Copper Ltd (UNV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.12.

Tells Me: The price is relatively far from its 20-bar average price.

The Commodity Channel Index (CCI) measures the deviation of the price from its average value (comparing to a chosen moving average, typically 20 bars). The oscillator is normalized by dividing by the typical deviation, so we get an oscillator fluctuating roughly between +100 and -100. Many traders use these as overbought(+100)/oversold(-100) markers and watch for signs of reversal, but original use was to consider long positions when CCI is above +100 (bullish event), and short when below -100 (bearish event). When the price crosses back in between +100 and -100, another event is triggered to indicate an end to the prior bullish or bearish situation and a possible opportunity to close out such a position.

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

Price Chart - Universal Copper Ltd


 

 
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