Bullboard - Stock Discussion Forum Cantex Mine Development Corp V.CD

Alternate Symbol(s): CTXDF

Metals & Mining Industrial Metals & Minerals

Cantex Mine Development Corp. is an exploration stage company. Its principal business activity is the exploration and development of mineral properties for commercial mineral deposits, and it is considered to be at the exploration stage. It is focused on its 100% owned 20,000-hectare (ha) North Rackla Project located about 150 kilometers (km) northeast of the town of Mayo in the Yukon Territory... see more

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Cantex Mine Development Corp > Cantex Mine Development Corp Posts Bullish 21-Day MA Cross

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Post by yukon_gold on Sep 16, 2024 10:14pm

Cantex Mine Development Corp Posts Bullish 21-Day MA Cross

Sep 16, 2024

Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on Cantex Mine Development Corp (CD:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.14.

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.