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Copper Lake Resources Ltd. V.CPL

Alternate Symbol(s):  WTCZF

Copper Lake Resources Ltd. is a Canadian mineral exploration and development company with interests in two projects both located in Ontario. The Company's projects include Marshall Lake and Norton Lake. The Marshall Lake high-grade volcanogenic massive sulfide copper, zinc, silver and gold project, comprises an area of approximately 220 square kilometers located 120 kilometers (kms) north of Geraldton, Ontario and is 22 kms north of the main CNR rail line. It has around 82.55% interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells that are 100% owned. Marshall Lake also includes the Sollas Lake and Summit Lake properties, which are 100% owned by the Company. It has around 69.79% joint venture interest in the Norton Lake nickel, copper, cobalt, and palladium platinum group metal (PGM) property that is located in the southern Ring of Fire area, approximately 100 kms north of the Marshall Lake Property.


TSXV:CPL - Post by User

Post by yukon_goldon May 01, 2023 8:52pm
260 Views
Post# 35424098

Copper Lake Resources forms bullish Relative Strength Index

Copper Lake Resources forms bullish Relative Strength Index
Apr 27, 2023

Trading Central has detected a "Relative Strength Index (RSI)" chart pattern formed on Copper Lake Resources Ltd (CPL:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.06.

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.

Price Chart - Copper Lake Resources Ltd
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