Goliath Posts Bullish 200-Day MA Cross & Two Bar Reversal Goliath Resources Ltd forms bullish "Two Bar Reversal" chart pattern
Dec 13, 2023
Trading Central has detected a "Two Bar Reversal (Bullish)" chart pattern formed on Goliath Resources Ltd (GOT:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.77.
Tells Me: Selling pressure showing signs of exhaustion; we may see higher prices at least in the short term.
A Two-Bar Reversal (Bullish) forms during a prolonged downtrend and involves two exceptionally wide bars reflecting a change in psychology. The first bar develops strongly in the direction of the downtrend, though developing a wide range hinting at an underlying shift. The second bar opens near the previous low as sellers come into the session expecting more of the same, but they are ultimately disappointed as the price closes up very close to the high of the previous bar.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Goliath Resources Ltd forms bullish "Price Crosses Moving Average" chart pattern
Dec 13, 2023
Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on Goliath Resources Ltd (GOT:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.77.
Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars).
Moving averages 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. A bullish event is generated when the price crosses above the moving average, and in this state, the price is likely in an established uptrend. The opposite is true when the price crosses below the moving average, triggered a bearish event.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.