Crius Energy Trust Tr Unit CRIUF

Crius Energy Trust forms bullish "Pennant" chart pattern

[lotus1]

Sep 19, 2017

Recognia has detected a "Pennant (Bullish)" chart pattern formed on Crius Energy Trust (KWH.UN:TSX). This bullish signal indicates that the stock price may rise from the close of $9.34 to the range of $10.30 - $10.50. The pattern formed over 13 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 be resuming a sharp rally after taking a brief pause. A bullish Pennant pattern occurs during a dynamic market rally, representing a brief period of indecision before running off again in the same direction. The pattern consists of two converging trend lines with diminishing volume, and is confirmed when the price breaks through the upper boundary to resume the advance.

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

[deisman03]

I am not a great fan of all these NEW formulae and charts that seem to be the in current fashion and are used by brokerages and analysts to bedazzle small investors.  I have no idea how many different types of these are out there but IMHO most of them are snake oil and remind me of the old scams that used to be published to pick the winners to bet on at the horse race track