Dolly Varden posts Bullish Hammer & Fast Schocastic Dolly Varden Silver Corp forms bullish "Hammer" chart pattern
Sep 20, 2021
Trading Central has detected a "Hammer" chart pattern formed on Dolly Varden Silver Corp (DV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.52.
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 Trading Central proprietary pattern recognition technology.
Dolly Varden Silver Corp forms bullish "Fast Stochastic" chart pattern
Sep 20, 2021
Trading Central has detected a "Fast Stochastic" chart pattern formed on Dolly Varden Silver Corp (DV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.52.
Tells Me: When the event is bullish, we may be facing higher prices as the price has risen out of oversold (%K crossed below 20 then rose again) and starting to trade higher up in the recent 14-bar high-to-low range (%K crossed above %D). The opposite is true for bearish events, where the price has fallen out of overbought and starting to trade lower in the recent high-to-low range. Stochastics is built on the premise that as prices increase, "close" prices tend to be closer to the upper end of the recent price range, and vice versa. The raw %K number looks at the most recent "close" price as a percentage of the high-to-low price range over a specified period of time (14 bars) so when %K is high, it's likely we're seeing upward pressure, and vice versa. %D is a 3-bar moving average of %K and is used as a signal line, indicating whether prices are starting to trade lower or higher within the recent high-to-low range. Both lines fluctuate between 0 and 100 with 20 and 80 often used to identify oversold and overbought conditions.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.