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

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Post by yukon_goldon Dec 07, 2022 8:48pm

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Post# 35157925

Zacapa Resources Ltd forms bullish "Momentum" chart pattern

Dec 07, 2022

Trading Central has detected a "Momentum" chart pattern formed on Zacapa Resources Ltd (ZACA:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.09.

Tells Me: For bullish events, upward momentum has just built up with the latest price now trading higher than the price 10 bars ago. The opposite is true for bearish events where we're seeing downward momentum now that the price is trading lower than 10 bars ago.

Momentum measures the velocity of price changes. For a 10-bar momentum, we take the difference between the last bar's close and the close 10 bars ago and we plot this as a line fluctuating above and below 0 which can be used as buy and sell signals when in agreement with prevailing trend analysis. Momentum is significant because it signals the strength of price trends. A healthy price trend tends to exhibit strong momentum, while weakening trends often have decreasing momentum indicating a trend reversal or correction.

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