Universal Copper Ltd forms bullish "Price Crosses Moving Average" chart pattern
Sep 03, 2021
Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on Universal Copper Ltd (UNV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.10.
Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars). Moving averages 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. A bullish event is generated when the price crosses above the moving average, and in this state, the price is likely in an established uptrend. The opposite is true when the price crosses below the moving average, triggered a bearish event.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Universal Copper Ltd forms bullish "Bottom Triangle" chart pattern
Sep 03, 2021
Trading Central has detected a "Bottom Triangle" chart pattern formed on Universal Copper Ltd (UNV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.10 to the range of $0.25 - $0.29. The pattern formed over 41 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: The price seems to have reached a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation. A Bottom Triangle shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks above the upper trendline with a noticeable increase in volume, confirming this bullish pattern as a reversal of the prior downtrend.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
Universal Copper Ltd forms bullish "Price Crosses Moving Average" chart pattern
Sep 03, 2021
Trading Central has detected a "Price Crosses Moving Average" chart pattern formed on Universal Copper Ltd (UNV:TSXV). This bullish signal indicates that the stock price may rise from the close of $0.10.
Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars). Moving averages 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. A bullish event is generated when the price crosses above the moving average, and in this state, the price is likely in an established uptrend. The opposite is true when the price crosses below the moving average, triggered a bearish event.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.