"A "Downside Breakout" chart pattern formed on Tanami Gold NL (TAM on ASX). This bearish signal indicates that the stock price may fall from the close of 0.10 to the range of 0.03-0.05. The pattern formed over 280 days which is roughly the period of time in which the target price range may be achieved."
Article continues... and i quote...
"A downside breakout is considered a bearish signal. The technical event occurs when the price of a financial instrument breaks out through the bottom of a trading range, indicating that price will fall over a period of days or weeks as a new downtrend appears"
"Recognia Alert Wire content is generated at market close by Recognia Inc. (www.recognia.com)"
I always take these sorts of chartist interpretations with a grain of salt, but charts do have one thing in their favour. They take out the emotion of investing and give a view based on that... ie technicals.
Never ever a recommendation, just a snippet of research, always do your own research.
TAM Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
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