And Bell Potter have also confirmed some of their "assumptions"...

First 4 Last

Share
Profile

Follow
1912

3,703 Posts.

626

05/01/18

13:00

Post #: 30069725
Share

Originally posted by Mr.Dollar ↑

Bell Direct has this morning issued a Bullish Buy signal with a price target of $4.65 - $4.80..

They were on the money in their last Buy signal on this stock a couple of months ago, so lets hope they are also accurate with this one...

Galaxy Resources Ltd forms bullish "Ascending Continuation Triangle" chart pattern
Jan 04, 2018
Recognia has detected an "Ascending Continuation Triangle" chart pattern formed on Galaxy Resources Ltd (GXY:ASX). This bullish signal indicates that the stock price may rise from the close of 4.03 to the range of 4.65 - 4.80. The pattern formed over 37 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 increasingly higher lows and constant highs within this pattern tell us that buyers are more aggressive than sellers, confirmed by a breakout through a resistance level to signal a continuation of the prior uptrend. An Ascending Triangle, with its increasingly higher lows and constant highs, indicates that buyers are more aggressive than sellers. The pattern typically forms because a supply of shares is available at a certain price, represented by the upper flat line. When the supply depletes, the shares quickly break out from the top trendline and move higher.
This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.

Expand

And Bell Potter have also confirmed some of their "assumptions" are conservative.

Time for Cannacord and others to update their own research notes as well .

In for a big 2018 .... !!

GXY Price at posting: $4.15 Sentiment: Buy Disclosure: Held
16 Upvote

0 Great analysis

Reply

Top Stories

DRO

History repeats for DroneShield investors but carnage so far subdued

PSC

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

SYR

Syrah jumps +19% as graphite tariff threat spurs optimism down under

SER

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

HotCopper Highlights: Trigg; Droneshield; Lumos & more

BDM

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

STN

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

ASX Market Open: Can we squeeze one more record reset into Week 29? | July 18

AII

A new NASDAQ listing for a key player in the global critical minerals space

First 4 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

And Bell Potter have also confirmed some of their "assumptions"...

Top Stories

History repeats for DroneShield investors but carnage so far subdued

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

Syrah jumps +19% as graphite tariff threat spurs optimism down under

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

HotCopper Highlights: Trigg; Droneshield; Lumos & more

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

ASX Market Open: Can we squeeze one more record reset into Week 29? | July 18

A new NASDAQ listing for a key player in the global critical minerals space

Featured News