Bellatrix Exploration Ltd (Canada) BXEFF

Energy

Bellatrix Exploration Ltd is a Canada-based oil and gas company, engaged in the exploration, acquisition, development, and production of oil and natural gas reserves in the provinces of Alberta, British Columbia, and Saskatchewan. It primarily focuses on developing its two core resource plays, the Cardium and the Notikewin/Falher intervals in Western Canada. The Notikewin/Falher in Alberta's deep basin boasts abundant, liquids-rich natural gas with compelling economics. The Cardium is a highly e

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Bellatrix Exploration Ltd (Canada)

Bullboard Posts

Comment by greener12345on May 18, 2013 10:09am

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Post# 21413595

bxe

Bellatrix Exploration Ltd forms bullish "Continuation Wedge" chart pattern
May 17, 2013

Recognia has detected a "Continuation Wedge (Bullish)" chart pattern formed on Bellatrix Exploration Ltd (BXE:TSX). This bullish signal indicates that the stock price may rise from the close of $6.04 to the range of $7.30 - $7.60. The pattern formed over 26 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 Recognia proprietary pattern recognition technology.