dated 14 April 2008 A "Symmetrical Continuation Triangle...

dated 14 April 2008

A "Symmetrical Continuation Triangle (Bearish)" chart pattern formed on Resource Mining Corporation Ltd (RMI on ASX). This bearish signal indicates that the stock price may fall from the close of 0.03 to the range of 0.01 - 0.01. The pattern formed over 59 days which is roughly the period of time in which the target price range may be achieved.

A Symmetrical Continuation Triangle (Bearish) is considered a bearish signal, indicating that the current downtrend may continue. Prices form a converging pattern as they reach lower highs and higher lows. The technical event occurs when the price breaks out of the triangle formation to close below the lower (ascending) trendline, thereby confirming the pattern.


Recognia Alert Wire content is generated at market close by Recognia Inc. (www.recognia.com). Recognia has developed proprietary technology for chart pattern recognition and automated interpretation based on the standards of technical analysis. Recognia's system scans all financial instruments across covered exchanges and generates news alerts for those that have formed one of more than 25 patterns