Dolly Varden Silver Corp forms bullish "Continuation Wedge" chart pattern
Jul 06, 2021
Trading Central has detected a "Continuation Wedge (Bullish)" chart pattern formed on Dolly Varden Silver Corp (DV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.63 to the range of $0.79 - $0.83. The pattern formed over 29 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: After a temporary interruption, the prior uptrend is set to continue. A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Dolly Varden Silver Corp forms bullish "Relative Strength Index" chart pattern
Jul 06, 2021
Trading Central has detected a "Relative Strength Index (RSI)" chart pattern formed on Dolly Varden Silver Corp (DV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.63.
Tells Me: For bullish events, we may be seeing higher prices as the price seems to be recovering from oversold as losses on down periods (over the last 14 bars) are no longer overwhelming gains on up periods to the same extent. The opposite is true for bearish events, which signal lower prices ahead as the price seems to be recovering from overbought because up days are no longer overwhelming down days to quite the same extent. RSI measures the strength of an issue compared to its recent history of price change by comparing "up" periods to "down" periods. It's based on the premise that overbought conditions tend to occur after the market has advanced for a disproportionate number of periods. The RSI fluctuates between 0 and 100 with 70 and 30 often used to indicate overbought and oversold levels, and 50 the dividing line indicating the direction of the trend. The RSI should not be confused with relative strength which compares a financial instrument ito a market index.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.