Recognia has detected a "Continuation Diamond (Bearish)" chart pattern formed on Liquefied Natural Gas Ltd. This bearish signal indicates that the stock price may fall from the close of 0.63 to the range of 0.05 - 0.15. The pattern formed over 262 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 downward out of a consolidation period, suggesting a continuation of the prior downtrend. The Continuation Diamond (Bearish) 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 downward out of the diamonds boundary lines, it marks the resumption of the prior downtrend.
You wanna know what this tells me ? Buy! Buy! Buy! Why ?
That a "Continuation Diamond" is a good thing, as the real "Diamond" here is definitely Bear Head as it continues to progress from a rock into the true gem it really will be one day, which to me is very "Bearish" indeed ! The more "Bearish" the Better imo ! so go Bear Head !
Now as for Recognia & posts like this, well, it all depends on your point of view i guess, See what i did there, turned a negative into a positive just by looking at the same crap from a different perspective, not that hard to do under the circumstances imo. There's a place for Recognia rubbish like this & it's not HotCopper imo, as it has the potential to influence people into selling, when in fact the opposite should most likely be happening as it turned out ! Anyway, that's my late night rant over for another day, time for bed, looking forward to today, tomorrow next week, month & year !
Hopefully some good news this week !
Cheers
Frank
LNG Price at posting:
90.0¢ Sentiment: Buy Disclosure: Held
