Goldstrike Resources Ltd
Bullish Ascending Continuation Triangle
The increasingly higher lows and constant highs within this pattern tell us that buyers are more aggressive than sellers, confirmed by a breakout through a resistance level to signal a continuation of the prior uptrend. An Ascending Triangle, with its increasingly higher lows and constant highs, indicates that buyers are more aggressive than sellers. The pattern typically forms because a supply of shares is available at a certain price, represented by the upper flat line. When the supply depletes, the shares quickly break out from the top trendline and move higher.
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Event Date: |
Jul 21, 2015 |
Opportunity Type: |
Intermediate-Term Bullish
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Close Price: |
$0.18 |
Target Price Range: |
$0.20 - $0.22 |
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Price Period: |
Daily |
Volume: |
2,911,706 |
Pattern Duration: |
21 days |
Inbound Trend Duration: |
68 days |
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Goldstrike Resources Ltd
Bullish Commodity Channel Index
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.
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Event Date: |
Jul 21, 2015 |
Opportunity Type: |
Short-Term Bullish |
Close Price: |
$0.18 |
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Price Period: |
Daily |
Volume: |
2,911,706 |
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