Max Resource Corp Posts 3 Bullish Stock Technical Events Max Resource Corp forms bullish "MACD" chart pattern
Sep 02, 2022
Trading Central has detected a "MACD" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.33.
The MACD (Moving Average Convergence Divergence) plots the difference between a shorter-term (12-bar) and a longer-term (26-bar) exponential moving average (EMA). Bullish and bearish events are generated respectively as the MACD fluctuates above and below zero to indicate whether prices in the shorter term are stronger or weaker than the longer term average.
A 9-period EMA of the MACD is overlayed as a "signal line" which smooths out the MACD to provide a clearer view of whether it's moving upward or downward. A bullish event is generated when the MACD crosses above the signal line, showing that the current MACD is actually higher than its average, a sign of increasing strength for the price. The opposite is true for bearish events which signal decreasing strength in price as the MACD crosses below the signal line showing that it's now below average.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Max Resource Corp forms bullish "Fast Stochastic" chart pattern
Sep 02, 2022
Trading Central has detected a "Fast Stochastic" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.33.
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.
Max Resource Corp forms bullish "Engulfing Line" chart pattern
Sep 02, 2022
Trading Central has detected an "Engulfing Line (Bullish)" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.33.
Tells Me: The recent downtrend is due to reverse, now that buying pressure has overwhelmed prior selling pressure.
Following a clear downtrend, we see two candlesticks where the white real body of the second completely envelops the black real body of the first, showing that the bulls have taken over from the bears.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.