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Ceylon Graphite Corp V.CYL

Alternate Symbol(s):  CYLYF

Ceylon Graphite Corp is a graphite mining company. It is engaged in the exploration and production of high grade graphite. The company owns the K1 production site and several other sites advancing towards production including M1, N1 and H1


TSXV:CYL - Post by User

Post by yukon_goldon Jan 04, 2022 8:10pm
264 Views
Post# 34283653

Ceylon Graphite Corp forms bullish "Commodity Channel Index"

Ceylon Graphite Corp forms bullish "Commodity Channel Index"
Jan 04, 2022

Trading Central has detected a "Commodity Channel Index" chart pattern formed on Ceylon Graphite Corp (CYL:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.20.

Tells Me: The price is relatively far from its 20-bar average price.

The Commodity Channel Index (CCI) measures the deviation of the price from its average value (comparing to a chosen moving average, typically 20 bars). The oscillator is normalized by dividing by the typical deviation, so we get an oscillator fluctuating roughly between +100 and -100. Many traders use these as overbought(+100)/oversold(-100) markers and watch for signs of reversal, but original use was to consider long positions when CCI is above +100 (bullish event), and short when below -100 (bearish event). When the price crosses back in between +100 and -100, another event is triggered to indicate an end to the prior bullish or bearish situation and a possible opportunity to close out such a position.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.

Price Chart - Ceylon Graphite Corp

 

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