Lucky Bullish Inside Bar & Momentum Lucky Minerals Inc forms bullish "Inside Bar" chart pattern
Aug 05, 2021
Trading Central has detected an "Inside Bar (Bullish)" chart pattern formed on Lucky Minerals Inc (LKY:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.11.
Tells Me: The balance between buyers and sellers, recently dominated by the bears, is evening out. We may see higher prices ahead. An Inside Bar develops during a strong downtrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bears and increasing in power for the bulls.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Lucky Minerals Inc forms bullish "Momentum" chart pattern
Aug 05, 2021
Trading Central has detected a "Momentum" chart pattern formed on Lucky Minerals Inc (LKY:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.11.
Tells Me: For bullish events, upward momentum has just built up with the latest price now trading higher than the price 10 bars ago. The opposite is true for bearish events where we're seeing downward momentum now that the price is trading lower than 10 bars ago. Momentum measures the velocity of price changes. For a 10-bar momentum, we take the difference between the last bar's close and the close 10 bars ago and we plot this as a line fluctuating above and below 0 which can be used as buy and sell signals when in agreement with prevailing trend analysis. Momentum is significant because it signals the strength of price trends. A healthy price trend tends to exhibit strong momentum, while weakening trends often have decreasing momentum indicating a trend reversal or correction.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.