West High Yield (W.H.Y) Resources Ltd V.WHY

Alternate Symbol(s): WHYRF

Metals & Mining Industrial Metals & Minerals

West High Yield (WHY) Resources Ltd is a Canada-based junior mining exploration and development company. The Company is focused on acquiring, exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its Record Ridge critical mineral (magnesium, silica, and nickel) deposit using green processing techniques to minimize waste and CO2 emissions. The Company’s Record Ridge critical mineral deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium. The Company retains 100% of the mineral rights to the Record Ridge Property, which consists of 29 contiguous mineral claims, eight crown-granted claims, and one privately owned claim totaling 8,972 hectares. The known magnesium mineralization is located within two of the mineral claims. The infrastructure for the proposed development of the Record Ridge Property is located on mineral tenures controlled by the Company.

TSXV:WHY - Post by User

West High Yield (W.H.Y) Resources Ltd

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Post by yukon_goldon Oct 18, 2024 10:39pm

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Post# 36272744

West High Yield Resources Stock Technicals Target $.30

West High Yield (W.H.Y.) Resources Ltd forms bullish "Diamond Bottom" chart pattern
Oct 17, 2024

Trading Central has detected a "Diamond 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 $0.23 to the range of $0.28 - $0.30. The pattern formed over 35 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, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation.

The Diamond Bottom pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks upward out of the diamonds boundary lines, it marks a significant reversal to a new uptrend.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.

Price Chart - West High Yield (W.H.Y.) Resources Ltd

West High Yield (W.H.Y.) Resources Ltd forms bullish "Commodity Channel Index" chart pattern
Oct 17, 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 $0.23.

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.