Lucapa Diamond Co Ltd forms bullish "Inside Bar" chart pattern Nov 04, 2016
Recognia has detected an "Inside Bar (Bullish)" chart pattern formed on Lucapa Diamond Co Ltd (LOM:ASX). This bullish signal indicates that the stock price may rise from the close of 0.44.
Tells Me: The balance between buyers and sellers, recently dominated by the bears, is evening out. We may see higher prices ahead. An Inside Bar develops during a strong downtrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bears and increasing in power for the bulls.
This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.
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LOM Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
