Max Resource Corp Posts 3 Bullish Stock Technical Events Max Resource Corp forms bullish "Williams %R" chart pattern
Mar 30, 2023
Trading Central has detected a "Williams %R" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.17.
Tells Me: For bullish events, we seem to be in a new uptrend now that the price has recovered from oversold (dropped below -80 then rose above). The opposite is true for bearish events where we seem to be in a new downtrend now that the price has recovered from overbought. Meanwhile there is clear evidence that the trend has reversed (continued through the -50 level).
Williams %R 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 oscillator 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 %R is high, it's likely we're seeing upward pressure, and vice versa. The line fluctuates between 0 and -100 with -20 and -80 often used to identify overbought and oversold 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 "Slow Stochastic" chart pattern
Mar 30, 2023
Trading Central has detected a "Slow Stochastic" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.17.
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) but in Slow Stochastics %K is actually a 3-bar moving average of the raw %K to make it a bit less reactive to the latest price. 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 "Momentum" chart pattern
Mar 30, 2023
Trading Central has detected a "Momentum" chart pattern formed on Max Resource Corp (MAX:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.17.
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.