Copper Lake Resources Ltd forms bullish "Hammer" chart pattern
May 20, 2022
Trading Central has detected a "Hammer" chart pattern formed on Copper Lake Resources Ltd (CPL:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.07.
Tells Me: The price may have reached the bottom of the recent downtrend, having recovered high up from a sharp decline for the session.
The Hammer appears during a downtrend, displaying a long lower shadow with a small real body at the top of the range. The price may be developing a bottom and due for a reversal to the upside.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Copper Lake Resources Ltd forms bullish "Inside Bar" chart pattern
May 20, 2022
Trading Central has detected an "Inside Bar (Bullish)" chart pattern formed on Copper Lake Resources Ltd (CPL:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.07.
Tells Me: The balance between buyers and sellers, recently dominated by the bears, is evening out. We may see higher prices ahead.
An Inside Bar develops during a strong downtrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bears and increasing in power for the bulls.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.