GREY:MSTUF - Post by User
Post by
retiredcfon Aug 31, 2016 7:15am
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Post# 25194283
Technical Analysis
Technical Analysis Milestone Apartments REIT forms bullish "Hammer" chart pattern
Aug 30, 2016
Recognia has detected a "Hammer" chart pattern formed on Milestone Apartments REIT (MST.UN:TSX). This bullish signal indicates that the stock price may rise from the close of $19.79.
Tells Me: The price may have reached the bottom of the recent downtrend, having recovered high up from a sharp decline for the session. The Hammer appears during a downtrend, displaying a long lower shadow with a small real body at the top of the range. The price may be developing a bottom and due for a reversal to the upside.
This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.