Reject Shop Ltd forms bullish "Pennant" chart pattern
Mar 16, 2016
Recognia has detected a "Pennant (Bullish)" chart pattern formed on Reject Shop Ltd (TRS:ASX). This bullish signal indicates that the stock price may rise from the close of 14.37 to the range of 18.75 - 19.75. The pattern formed over 15 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 seems to be resuming a sharp rally after taking a brief pause. A bullish Pennant pattern occurs during a dynamic market rally, representing a brief period of indecision before running off again in the same direction. The pattern consists of two converging trend lines with diminishing volume, and is confirmed when the price breaks through the upper boundary to resume the advance.
technology.
Reject Shop Ltd forms bullish "Pennant" chart pattern Mar 16,...
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Last
$3.12 |
Change
-0.020(0.64%) |
Mkt cap ! $116.6M | |||
| Open | High | Low | Value | Volume |
| $3.16 | $3.17 | $3.12 | $68.33K | 21.71K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 544 | $3.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.17 | 7936 | 2 |
View Market Depth
| Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
| TRS (ASX) Chart |