Valeura Energy Inc. VLERF

From Trading Central this morning

[savyinvestor333]

STOCK BULL AND BEAR REPORT

 

Valeura Energy Inc forms bullish "Double Bottom" chart pattern
Jan 17, 2024

Trading Central has detected a "Double Bottom" chart pattern formed on Valeura Energy Inc (VLE:TSX). This bullish signal indicates that the stock price may rise from the close of $3.06 to the range of $3.31 - $3.39. The pattern formed over 27 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: The price seems to have reached a bottom after failing to break through a support level and ultimately rising higher in a sign of reversal to a new uptrend.

The Double Bottom pattern forms during a downtrend as the price reaches two distinct lows at roughly the same price level. Volume reflects a weakening of the downward pressure, tending to diminish as the pattern forms, with some pickup at each low, less on the second low. Finally the price breaks upward above the highest high to confirm the bullish signal.

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

[savyinvestor333]

Geez they said it would take 27 days to achieve this target price. We may hit it today. Lol

[Kadiddelhopper]

That Trading Central is a good site... thanks!

[Suppe11]

Yeah, maybe...but this chart-chat-gpt is just worthless. While the support+resistance zones were right, the softwareauthor most probably never traded a double bottom....they look+behave different and the time between the lows was much to short....so I can resume....just usual bs.

[cyber37]

So if this ‘double bottom’ has any legs in it we are looking at $3.80 very soon? Well, I’m always skeptical when comes to technical interpretation because I think people often see what they would like to see ….BUT if the shoe fits. I also think that VLE is making all the right moves so naturally graph is beginning to reflect that. Whatever it is, I like it & it looks like there is more to come

[firstworld]

4.20 till close to earnings dup all before then and buy back at 2.70 in 6 weeks.