Perseus Mining Ltd forms bullish "Price Crosses Moving Average" chart pattern Feb 09, 2016
Recognia has detected a "Price Crosses Moving Average" chart pattern formed on Perseus Mining Ltd (PRU:ASX). This bullish signal indicates that the stock price may rise from the close of 0.32.
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.
Viralytics Ltd forms bullish "Hammer" chart pattern Feb 09, 2016
Recognia has detected a "Hammer" chart pattern formed on Viralytics Ltd (VLA:ASX). This bullish signal indicates that the stock price may rise from the close of 0.74.
Tells Me: The price may have reached the bottom of the recent downtrend, having recovered high up from a sharp decline for the session. The Hammer appears during a downtrend, displaying a long lower shadow with a small real body at the top of the range. The price may be developing a bottom and due for a reversal to the upside
Pharmaxis Ltd forms bullish "Gravestone" chart pattern Feb 09, 2016
Recognia has detected a "Gravestone (Bullish)" chart pattern formed on Pharmaxis Ltd (PXS:ASX). This bullish signal indicates that the stock price may rise from the close of 0.27.
Tells Me: The bears have sustained control over the downtrend, but the period has shown a surge of bullish demand that suggests we are nearing a bottom. During a downtrend, the bar opens at its low (or very close to its low), then rallies, but isn't able to sustain the move and closes back down near the open. The bulls have lost the battle but have shown some strength during this period. It's possible we are nearing a bottom.
Ellex Medical Lasers Ltd forms bullish "Inverted Hammer" chart pattern Feb 09, 2016
Recognia has detected an "Inverted Hammer" chart pattern formed on Ellex Medical Lasers Ltd (ELX:ASX). This bullish signal indicates that the stock price may rise from the close of 0.74.
Tells Me: The recent decline is approaching its bottom, as the balance between buyers and sellers evens out and there's an attempt (though failed) at higher prices. The Inverted Hammer appears during a downtrend with a long upper shadow reflecting an attempt a higher prices, and a small real body at the lower end of the range reflecting an evening out of the balance between buyers and sellers as the bears have lost some control. The price may have reached a bottom and ready to turn higher.
ASG Group Ltd forms bullish "Hammer" chart pattern Feb 09, 2016
Recognia has detected a "Hammer" chart pattern formed on ASG Group Ltd (ASZ:ASX). This bullish signal indicates that the stock price may rise from the close of 0.95.
Tells Me: The price may have reached the bottom of the recent downtrend, having recovered high up from a sharp decline for the session. The Hammer appears during a downtrend, displaying a long lower shadow with a small real body at the top of the range. The price may be developing a bottom and due for a reversal to the upside.
