Goliath Posts Bullish 21-Day Cross and Inside Bar Charts 📈 Goliath Resources Ltd forms bullish "Price Crosses Moving Average" chart pattern
Aug 30, 2024
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 $1.27.
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.
Goliath Resources Ltd forms bullish "Inside Bar" chart pattern
Aug 30, 2024
Trading Central has detected an "Inside Bar (Bullish)" chart pattern formed on Goliath Resources Ltd (GOT:TSXV). This bullish signal indicates that the stock price may rise from the close of $1.27.
Tells Me: The balance between buyers and sellers, recently dominated by the bears, is evening out. We may see higher prices ahead.
An Inside Bar develops during a strong downtrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bears and increasing in power for the bulls.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.