Concordia Healthcare Corp. T.CXR.R

Technical Analysis

[retiredcf]

One can hope. GLTA

Concordia International Corp forms bullish "Inverted Hammer" chart pattern
Sep 12, 2016

Recognia has detected an "Inverted Hammer" chart pattern formed on Concordia International Corp (CXR:TSX). This bullish signal indicates that the stock price may rise from the close of $9.28.

Tells Me: The recent decline is approaching its bottom, as the balance between buyers and sellers evens out and there's an attempt (though failed) at higher prices. The Inverted Hammer appears during a downtrend with a long upper shadow reflecting an attempt a higher prices, and a small real body at the lower end of the range reflecting an evening out of the balance between buyers and sellers as the bears have lost some control. The price may have reached a bottom and ready to turn higher. 

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

[Marky1]

Thank you retiredcf....I feel that at some point that there won't be any more sellers left to sell their shares at these prices! 

[PROtrading]

Correct!!!    TA three in a row now indicates bullish short term. Humm TA versus trash cans. I'll put my money on TA short term and trash can medium long term. Covered short, going long!  Let the pumping begin!  I'm taking a break because I do NOT voluntarily and knowingly pump or promote trash cans! See you guys when I flip to a short again!  Until then,

[Craigbad]

Best of of luck Pro, but i'm not sure if TA factors in being dropped from three indexes on Friday. Anyway, longs could use a little pop to boost moral and if you can make a few pennies then have at it! Happy trading!

[SanritMarka]

What do you mean it is dropped from 3 indices.  Link !

[Ellesse]

Below $9.00 now..... Where is the bottom now ????? $8.00... $7.00... $6.00......... Good luck....

[Craigbad]

Check Fridays news releases. 3 removals from large cap indices. I expect alot of automatic dumping leading into and on Friday. Pretty much like walking into the middle of the street when theres a Mac truck coming with no brakes at this point. Lets hope funnytraders buddy starts buying those 20 million shares this week for the sake of longs.

[rad10]

you are wise to cover pro - it has been a good short for you.  I have learnt a tough lesson on this one.  I can't see much further downside - and there may be a small pop early next week.  Not enough to make up the 40K loss though! I better read some scans now - my brokerage will be on the phone................ Cheers Rad 10

[LaticelnExile]

This post has been removed in accordance with Community Policy

[PROtrading]

ARRHHHHHHH, Do you ALWAYS have to be right??  :-) I tell everyone NOT TO FOLLOW ME!  Here's a perfect example.  Really dumb impulsive trade! I really deserve a dumbass metal for this one! Minus 6% intraday bagholder here.  Well I can't say I've many any money here overall but I sure met some great people and I'm getting humbled with my continual stupid moves