Zacapa Resources Ltd ZACAF

Zacapa Resources Ltd. is a Canada-based mineral exploration company. The Company holds a portfolio of porphyry copper and epithermal gold projects in the states of Nevada, Arizona and Idaho, United States. The Company’s Red Top project is located in the Superior Mining District, approximately eight kilometers (km) northwest of the Resolution development project. Its Pearl project is located immediately northwest of the past-producing San Manuel porphyry copper mine (BHP) and consists of 241 lode mining claims. Its Tomichi project is located near the southwestern end of the Sawatch Range in the Tomichi Mining District of Gunnison County, Colorado. It consists of 114 unpatented lode mining claims with a total area of approximately 9.5 square kilometers. Its Bullfrog South Project is located in the Walker Lane trend of western Nevada in an increasingly active Bullfrog gold district near Beatty. Its Miller Mountain project is located in west-central Idaho.

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Zacapa Resources Ltd > Zacapa Resources Ltd forms bullish "Relative Strength Index"

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Post by yukon_goldon Nov 21, 2022 10:26pm

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Post# 35117415

Zacapa Resources Ltd forms bullish "Relative Strength Index"

Nov 21, 2022

Trading Central has detected a "Relative Strength Index (RSI)" chart pattern formed on Zacapa Resources Ltd (ZACA:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.10.

Tells Me: For bullish events, we may be seeing higher prices as the price seems to be recovering from oversold as losses on down periods (over the last 14 bars) are no longer overwhelming gains on up periods to the same extent. The opposite is true for bearish events, which signal lower prices ahead as the price seems to be recovering from overbought because up days are no longer overwhelming down days to quite the same extent.

RSI measures the strength of an issue compared to its recent history of price change by comparing "up" periods to "down" periods. It's based on the premise that overbought conditions tend to occur after the market has advanced for a disproportionate number of periods. The RSI fluctuates between 0 and 100 with 70 and 30 often used to indicate overbought and oversold levels, and 50 the dividing line indicating the direction of the trend. The RSI should not be confused with relative strength which compares a financial instrument to a market index.

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