Bullboard - Stock Discussion Forum Marksmen Energy Inc V.MAH

Alternate Symbol(s): MKSEF

Energy Oil & Gas E&P

Marksmen Energy Inc. is a Canada-based energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas properties, primarily located in Ohio, United States. The Company’s projects include Davis Holbrook, which is an oilfield property in Pickaway County, Ohio and the formation is the Cambrian Knox. The Company is the operator and holds a 75... see more

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Marksmen Energy Inc > Marksmen Energy Inc forms bullish Double MA Crossover Chart

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Post by yukon_gold on Jul 26, 2024 10:09pm

Marksmen Energy Inc forms bullish Double MA Crossover Chart

Jul 26, 2024

Trading Central has detected a "Double Moving Average Crossover" chart pattern formed on Marksmen Energy Inc (MAH:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.005.

Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average periods.

Moving averages (MA) are used to smooth out the volatility or "noise" in the price series, to make it easier to discover the underlying trend. By plotting the average price over the last several bars, the line is less "jerky" than plotting the actual prices. In the double crossover method, a bullish event is generated when a faster moving average crosses above a slower moving average (21-bar MA crosses 50-bar, or 50-bar MA crosses 200-bar). In this state, the price is likely in an established uptrend. The opposite is true when the faster slips below the slower moving average, triggering a bearish event.

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