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Bullboard - Stock Discussion Forum Marksmen Energy Inc V.MAH

Alternate Symbol(s):  MKSEF

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

TSXV:MAH - Post Discussion

Marksmen Energy Inc > Marksmen Energy Inc forms bullish "Commodity Channel Index"
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Post by yukon_gold on Oct 09, 2024 10:14pm

Marksmen Energy Inc forms bullish "Commodity Channel Index"

Oct 09, 2024

Trading Central has detected a "Commodity Channel Index" 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 relatively far from its 20-bar average price.

The Commodity Channel Index (CCI) measures the deviation of the price from its average value (comparing to a chosen moving average, typically 20 bars). The oscillator is normalized by dividing by the typical deviation, so we get an oscillator fluctuating roughly between +100 and -100. Many traders use these as overbought(+100)/oversold(-100) markers and watch for signs of reversal, but original use was to consider long positions when CCI is above +100 (bullish event), and short when below -100 (bearish event). When the price crosses back in between +100 and -100, another event is triggered to indicate an end to the prior bullish or bearish situation and a possible opportunity to close out such a position.

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

Price Chart - Marksmen Energy Inc

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