Max Resource Corp V.MAX

Alternate Symbol(s): MXROF

Metals & Mining Industrial Metals & Minerals

Max Resource Corp. is a Canada-based mineral exploration company. The Company is engaged in the acquisition and exploration of mineral properties. The Company is engaged in advancing its Sierra Azul copper-silver project in Colombia. Its Sierra Azul copper-silver project is located in northeastern Colombia and lies along the northern portion of the Andean belt. The land tenure at Sierra Azul includes 188 square kilometers (km2) of mining concessions and 1,141 km2 of mineral concession applications. The Sierra Azul Copper-Silver Project comprises three districts: Uru, Conejo and AM Copper silver Zone. The Project hosts stratiform copper-silver mineralization in the southern end (URU and Conejo zones). The Company has also entered into a mineral right purchase agreement to acquire approximately 100% interest the Floralia DSO Iron Ore Project. The Floralia DSO Iron Ore property is located 120-km east of the city of Belo Horizonte in the State of Minas Gerais, Brazil.

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Max Resource Corp

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Post by yukon_goldon Feb 22, 2023 10:25pm

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Post# 35299883

Max Resource Corp forms bullish "Relative Strength Index"

Feb 22, 2023

Trading Central has detected a "Relative Strength Index (RSI)" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.19.

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.