Marksman Energy Posts 4 Solid Bullish Stock Technical Events Marksmen Energy Inc forms bullish "Relative Strength Index" chart pattern
Jul 05, 2024
Trading Central has detected a "Relative Strength Index (RSI)" chart pattern formed on Marksmen Energy Inc (MAH:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.01.
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.
Marksmen Energy Inc forms bullish "MACD" chart pattern
Jul 05, 2024
Trading Central has detected a "MACD" chart pattern formed on Marksmen Energy Inc (MAH:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.01.
The MACD (Moving Average Convergence Divergence) plots the difference between a shorter-term (12-bar) and a longer-term (26-bar) exponential moving average (EMA). Bullish and bearish events are generated respectively as the MACD fluctuates above and below zero to indicate whether prices in the shorter term are stronger or weaker than the longer term average.
A 9-period EMA of the MACD is overlayed as a "signal line" which smooths out the MACD to provide a clearer view of whether it's moving upward or downward. A bullish event is generated when the MACD crosses above the signal line, showing that the current MACD is actually higher than its average, a sign of increasing strength for the price. The opposite is true for bearish events which signal decreasing strength in price as the MACD crosses below the signal line showing that it's now below average.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Marksmen Energy Inc forms trend-ending "Gap Up" chart pattern
Jul 05, 2024
Trading Central has detected a "Gap Up" chart pattern formed on Marksmen Energy Inc (MAH:TSXV). This trend-ending signal indicates that the stock price trend may end.
Gaps usually represent important areas of support or resistance. A Gap Up will indicate different situations based on the context in which it was formed. A Gap Up in an uptrend may indicate a previous level of resistance has been broken and now forms a support level. A Gap Up in a downtrend may indicate an end to, or a reversal of, the prior downtrend. Gaps provide an indication of a financial instrument's SHORT-TERM outlook.
This trend-ending pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Marksmen Energy Inc forms trend-ending "Commodity Channel Index" chart pattern
Jul 05, 2024
Trading Central has detected a "Commodity Channel Index" chart pattern formed on Marksmen Energy Inc (MAH:TSXV). This trend-ending signal indicates that the stock price trend may end.
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 trend-ending pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.