Bullboard - Stock Discussion Forum Ceylon Graphite Corp V.CYL

Alternate Symbol(s): CYLYF

Ceylon Graphite Corp is a graphite mining company. It is engaged in the exploration and production of high grade graphite. The company owns the K1 production site and several other sites advancing towards production including M1, N1 and H1

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Ceylon Graphite Corp > Ceylon Graphite Corp forms "Gap Up" chart pattern

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Post by yukon_gold on Mar 24, 2022 10:51pm

Ceylon Graphite Corp forms "Gap Up" chart pattern

Mar 24, 2022

Trading Central has detected a "Gap Up" chart pattern formed on Ceylon Graphite Corp (CYL:TSXV). This trend-ending signal indicates that the stock price trend may end.

Gaps usually represent important areas of support or resistance. A Gap Up will indicate different situations based on the context in which it was formed. A Gap Up in an uptrend may indicate a previous level of resistance has been broken and now forms a support level. A Gap Up in a downtrend may indicate an end to, or a reversal of, the prior downtrend. Gaps provide an indication of a financial instrument's SHORT-TERM outlook.

This trend-ending pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.