Juggernaut Exploration Posts Bullish Double MA Cross & CCI Juggernaut Exploration Ltd forms bullish "Commodity Channel Index" chart pattern
Apr 12, 2023
Trading Central has detected a "Commodity Channel Index" chart pattern formed on Juggernaut Exploration Ltd (JUGR:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.16.
Tells Me: The price is relatively far from its 20-bar average price.
The Commodity Channel Index (CCI) measures the deviation of the price from its average value (comparing to a chosen moving average, typically 20 bars). The oscillator is normalized by dividing by the typical deviation, so we get an oscillator fluctuating roughly between +100 and -100. Many traders use these as overbought(+100)/oversold(-100) markers and watch for signs of reversal, but original use was to consider long positions when CCI is above +100 (bullish event), and short when below -100 (bearish event). When the price crosses back in between +100 and -100, another event is triggered to indicate an end to the prior bullish or bearish situation and a possible opportunity to close out such a position.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Juggernaut Exploration Ltd forms bullish "Double Moving Average Crossover" chart pattern
Apr 12, 2023
Trading Central has detected a "Double Moving Average Crossover" chart pattern formed on Juggernaut Exploration Ltd (JUGR:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.16.
Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average periods.
Moving averages (MA) are used to smooth out the volatility or "noise" in the price series, to make it easier to discover the underlying trend. By plotting the average price over the last several bars, the line is less "jerky" than plotting the actual prices. In the double crossover method, a bullish event is generated when a faster moving average crosses above a slower moving average (21-bar MA crosses 50-bar, or 50-bar MA crosses 200-bar). In this state, the price is likely in an established uptrend. The opposite is true when the faster slips below the slower moving average, triggering a bearish event.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.