Northern Star Resources Ltd forms bullish "Hammer" chart pattern Feb 01, 2016
Recognia has detected a "Hammer" chart pattern formed on Northern Star Resources Ltd (NST:ASX). This bullish signal indicates that the stock price may rise from the close of 2.94.
Tells Me: The price may have reached the bottom of the recent downtrend, having recovered high up from a sharp decline for the session. The Hammer appears during a downtrend, displaying a long lower shadow with a small real body at the top of the range. The price may be developing a bottom and due for a reversal to the upside.
Emerchants Ltd forms bullish "Upside Breakout" chart pattern Feb 01, 2016
Recognia has detected an "Upside Breakout" chart pattern formed on Emerchants Ltd (EML:ASX). This bullish signal indicates that the stock price may rise from the close of 1.08 to the range of 1.19 - 1.21. The pattern formed over 18 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 broke upward out of a trading range suggesting we're entering a new uptrend. The Upside Breakout pattern represents a trading range in which prices move sideways between two parallel horizontal lines. It's often a pause or congestion area within an existing trend though sometimes the breakout results in a reversal to the prior trend. Either way, an upside breakout through the upper resistance line signals an end to the consolidation period and the start of an uptrend.
Japara Healthcare Ltd forms bullish "Continuation Wedge" chart pattern Feb 01, 2016
Recognia has detected a "Continuation Wedge (Bullish)" chart pattern formed on Japara Healthcare Ltd (JHC:ASX). This bullish signal indicates that the stock price may rise from the close of 3.00 to the range of 3.28 - 3.36. The pattern formed over 22 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: After a temporary interruption, the prior uptrend is set to continue. A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
ARB Corp Ltd forms bullish "Symmetrical Continuation Triangle" chart pattern Feb 01, 2016
Recognia has detected a "Symmetrical Continuation Triangle (Bullish)" chart pattern formed on ARB Corp Ltd (ARB:ASX). This bullish signal indicates that the stock price may rise from the close of 15.87 to the range of 17.30 - 17.60. The pattern formed over 22 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 has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend. A Symmetrical Continuation Triangle (Bullish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks out above the upper trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior uptrend
MG Unit Trust forms bullish "Continuation Wedge" chart pattern Feb 01, 2016
Recognia has detected a "Continuation Wedge (Bullish)" chart pattern formed on MG Unit Trust (MGC:ASX). This bullish signal indicates that the stock price may rise from the close of 2.43 to the range of 2.66 - 2.72. The pattern formed over 20 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: After a temporary interruption, the prior uptrend is set to continue. A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
