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Bullboard - Stock Discussion Forum Goliath Resources Ltd V.GOT

Alternate Symbol(s):  GOTRF

Goliath Resources Limited is a Canada-based junior resource exploration company. The Company is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. The Company owns 100% of the Golddigger property that covers an area of 52,756 hectares. The Homestake Ridge Deposit (Fury Gold Mines Limited), Dolly Varden... see more

TSXV:GOT - Post Discussion

Goliath Resources Ltd > Goliath Resources Ltd forms bullish "Momentum" chart pattern
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Post by yukon_gold on Apr 24, 2023 9:44pm

Goliath Resources Ltd forms bullish "Momentum" chart pattern

Apr 24, 2023

Trading Central has detected a "Momentum" chart pattern formed on Goliath Resources Ltd (GOT:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.75.

Tells Me: For bullish events, upward momentum has just built up with the latest price now trading higher than the price 10 bars ago. The opposite is true for bearish events where we're seeing downward momentum now that the price is trading lower than 10 bars ago.

Momentum measures the velocity of price changes. For a 10-bar momentum, we take the difference between the last bar's close and the close 10 bars ago and we plot this as a line fluctuating above and below 0 which can be used as buy and sell signals when in agreement with prevailing trend analysis. Momentum is significant because it signals the strength of price trends. A healthy price trend tends to exhibit strong momentum, while weakening trends often have decreasing momentum indicating a trend reversal or correction.

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

Price Chart - Goliath Resources Ltd
Comment by RockLobster1 on Apr 26, 2023 10:09am
Hard to believe that this in depth analysis could possibly be wrong! Down 12 %...  can;t the chart predict financings and drill results???? FYI I love technical analysis for swing trading liquid large cap stocks and ETFs, but penny stocks?
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