Freedom Nutritional Products Ltd forms bullish "Flag" chart pattern Jan 19, 2016
Recognia has detected a "Flag (Bullish)" chart pattern formed on Freedom Nutritional Products Ltd (FNP:ASX). This bullish signal indicates that the stock price may rise from the close of 3.38 to the range of 5.00 - 5.40. The pattern formed over 14 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 Flag pattern occurs during a dynamic market rally, representing a brief pause as the market "catches its breath" before running off again in the same direction. The pattern consists of two parallel trend lines, often sloping downward against the prevailing uptrend, and is confirmed when the price breaks through the upper boundary to resume the rise.
Beacon Lighting Group Ltd forms bullish "Continuation Diamond" chart pattern Jan 19, 2016
Recognia has detected a "Continuation Diamond (Bullish)" chart pattern formed on Beacon Lighting Group Ltd (BLX:ASX). This bullish signal indicates that the stock price may rise from the close of 2.04 to the range of 2.55 - 2.65. The pattern formed over 219 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. The pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks upward out of the diamonds boundary lines, it marks the resumption of the prior uptrend.
BT Investment Management Ltd forms bullish "Outside Bar" chart pattern Jan 19, 2016
Recognia has detected an "Outside Bar (Bullish)" chart pattern formed on BT Investment Management Ltd (BTT:ASX). This bullish signal indicates that the stock price may rise from the close of 10.51.
Tells Me: Selling pressure showing signs of exhaustion; we may see higher prices at least in the short term. An Outside Bar (Bullish) develops during a strong downtrend, when the trading range completely encompasses the range of the prior bar. This signals an exhaustion of the prior downtrend and potentially a reversal.
Challenger Ltd forms bullish "Engulfing Line" chart pattern Jan 19, 2016
Recognia has detected an "Engulfing Line (Bullish)" chart pattern formed on Challenger Ltd (CGF:ASX). This bullish signal indicates that the stock price may rise from the close of 7.91.
Tells Me: The recent downtrend is due to reverse, now that buying pressure has overwhelmed prior selling pressure. Following a clear downtrend, we see two candlesticks where the white real body of the second completely envelops the black real body of the first, showing that the bulls have taken over from the bears.
Reject Shop Ltd forms bullish "Symmetrical Continuation Triangle" chart pattern Jan 19, 2016
Recognia has detected a "Symmetrical Continuation Triangle (Bullish)" chart pattern formed on Reject Shop Ltd (TRS:ASX). This bullish signal indicates that the stock price may rise from the close of 11.03 to the range of 13.30 - 13.80. The pattern formed over 53 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
