Douglas Lake Minerals Inc DLKM

Rays of Hope

[AU_NB]

It looks like we're set up for a Reversal Up.  Today the candlestick pattern was a bullish "Hammer."  Potential reversal up signals are possible also with a Close back inside the lower Bollinger Band tomorrow and with a divergence of the Williams' Percent R indicator.  It may only be a bounce, but it could be the start of a trip back UP.  Volume at 385k+ is fairly high so there might have been a capitulation of weak hands.

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fwiw
jmho
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[baconmaker]

Hey "0" Ray of Hope Sunshine....Wow, good analysis. Can't say I understand it much though. Question to you....Is that a head and shoulders I see at the end of your chart? Isn't that a good sign too?.A few gold results would help too! How about it Douglas of Douglas Lake. When do we get to see them thar gold results in them thar hills?.My mantra for today...bring back Harp...bring

[AU_NB]

Bacon:It is possible to make out a Head and Shoulders pattern.  It, however, would not be considered Bullish.  A Head and Shoulders is a topping formation or a bearish continuation pattern.  It appears that with today's action, the minimum measurement of travel down from the neckline of the H&S pattern has just about been reached.  Given the Bullish Hammer candlestick

[baconmaker]

Thanks AU. Very interesting info. Where did you learn this?.I usually just go on tips. But a while back I saw a presentation by some IBD guys who about their CAN SLIM trading system and they were talking about head and shoulders and a cup. After looking at your chart again, I also saw a cup. Is a cup a harbinger of an upward movement?.BTW, where did you get this chart?.Bacon