📈 West High Yield Posts 4 Solid Bullish Stock Events 📈 West High Yield (W.H.Y.) Resources Ltd forms bullish "Price Crosses Moving Average" chart pattern
Mar 28, 2024
Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on West High Yield (W.H.Y.) Resources Ltd (WHY:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.29.
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.
West High Yield (W.H.Y.) Resources Ltd forms bullish "Price Crosses Moving Average" chart pattern
Mar 28, 2024
Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on West High Yield (W.H.Y.) Resources Ltd (WHY:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.29.
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.
West High Yield (W.H.Y.) Resources Ltd forms bullish "Double Bottom" chart pattern
Mar 28, 2024
Trading Central has detected a "Double Bottom" chart pattern formed on West High Yield (W.H.Y.) Resources Ltd (WHY:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.29 to the range of $0.33 - $0.35. The pattern formed over 25 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached a bottom after failing to break through a support level and ultimately rising higher in a sign of reversal to a new uptrend.
The Double Bottom pattern forms during a downtrend as the price reaches two distinct lows at roughly the same price level. Volume reflects a weakening of the downward pressure, tending to diminish as the pattern forms, with some pickup at each low, less on the second low. Finally the price breaks upward above the highest high to confirm the bullish signal.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
West High Yield (W.H.Y.) Resources Ltd forms bullish "Commodity Channel Index" chart pattern
Mar 28, 2024
Trading Central has detected a "Commodity Channel Index" chart pattern formed on West High Yield (W.H.Y.) Resources Ltd (WHY:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.29.
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.
