RXP Services Ltd forms bullish "Symmetrical Continuation Triangle" chart pattern Feb 11, 2016
Recognia has detected a "Symmetrical Continuation Triangle (Bullish)" chart pattern formed on RXP Services Ltd (RXP:ASX). This bullish signal indicates that the stock price may rise from the close of 0.60 to the range of 0.68 - 0.70. The pattern formed over 30 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 has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend. A Symmetrical Continuation Triangle (Bullish) 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 out above the upper trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior uptrend.
Australian Pharmaceutical Industries Ltd forms bullish "Inside Bar" chart pattern Feb 11, 2016
Recognia has detected an "Inside Bar (Bullish)" chart pattern formed on Australian Pharmaceutical Industries Ltd (API:ASX). This bullish signal indicates that the stock price may rise from the close of 1.96.
Tells Me: The balance between buyers and sellers, recently dominated by the bears, is evening out. We may see higher prices ahead. An Inside Bar develops during a strong downtrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bears and increasing in power for the bulls.
Magellan Financial Group Ltd forms bullish "Inside Bar" chart pattern Feb 11, 2016
Recognia has detected an "Inside Bar (Bullish)" chart pattern formed on Magellan Financial Group Ltd (MFG:ASX). This bullish signal indicates that the stock price may rise from the close of 20.47.
Tells Me: The balance between buyers and sellers, recently dominated by the bears, is evening out. We may see higher prices ahead. An Inside Bar develops during a strong downtrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bears and increasing in power for the bulls.
Australia and New Zealand Banking Group Ltd forms bullish "Inside Bar" chart pattern Feb 11, 2016
Recognia has detected an "Inside Bar (Bullish)" chart pattern formed on Australia and New Zealand Banking Group Ltd (ANZ:ASX). This bullish signal indicates that the stock price may rise from the close of 22.71.
Tells Me: The balance between buyers and sellers, recently dominated by the bears, is evening out. We may see higher prices ahead. An Inside Bar develops during a strong downtrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bears and increasing in power for the bulls.
Goodman Group forms bullish "Continuation Diamond" chart pattern Feb 11, 2016
Recognia has detected a "Continuation Diamond (Bullish)" chart pattern formed on Goodman Group (GMG:ASX). This bullish signal indicates that the stock price may rise from the close of 6.26 to the range of 7.30 - 7.50. The pattern formed over 293 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 has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend. The pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks upward out of the diamonds boundary lines, it marks the resumption of the prior uptrend.
