Solis Minerals Posts Bullish Williams %R & Hammer Solis Minerals Ltd forms bullish "Williams %R" chart pattern
Dec 17, 2021
Trading Central has detected a "Williams %R" chart pattern formed on Solis Minerals Ltd (SLMN:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.19.
Tells Me: For bullish events, we seem to be in a new uptrend now that the price has recovered from oversold (dropped below -80 then rose above). The opposite is true for bearish events where we seem to be in a new downtrend now that the price has recovered from overbought. Meanwhile there is clear evidence that the trend has reversed (continued through the -50 level).
Williams %R 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 oscillator 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 %R is high, it's likely we're seeing upward pressure, and vice versa. The line fluctuates between 0 and -100 with -20 and -80 often used to identify overbought and oversold conditions.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Solis Minerals Ltd forms bullish "Hammer" chart pattern
Dec 17, 2021
Trading Central has detected a "Hammer" chart pattern formed on Solis Minerals Ltd (SLMN:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.19.
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.