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 bullish "Hammer" chart pattern

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Post by yukon_gold on Jun 14, 2022 8:11pm

Ceylon Graphite Corp forms bullish "Hammer" chart pattern

Jun 14, 2022

Trading Central has detected a "Hammer" chart pattern formed on Ceylon Graphite Corp (CYL:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.17.

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.