Day Trading 22 Jan Pre Market, page-2

Thanks Jim & G00d morning all

Oil Search Ltd forms bullish "Inverted Hammer" chart pattern
Jan 21, 2016
Recognia has detected an "Inverted Hammer" chart pattern formed on Oil Search Ltd (OSH:ASX). This bullish signal indicates that the stock price may rise from the close of 5.64.
Tells Me: The recent decline is approaching its bottom, as the balance between buyers and sellers evens out and there's an attempt (though failed) at higher prices. The Inverted Hammer appears during a downtrend with a long upper shadow reflecting an attempt a higher prices, and a small real body at the lower end of the range reflecting an evening out of the balance between buyers and sellers as the bears have lost some control. The price may have reached a bottom and ready to turn higher.


OneVue Holdings Ltd forms bullish "Hammer" chart pattern
Jan 21, 2016
Recognia has detected a "Hammer" chart pattern formed on OneVue Holdings Ltd (OVH:ASX). This bullish signal indicates that the stock price may rise from the close of 0.72.
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.

Ridley Corp Ltd forms bullish "Hammer" chart pattern
Jan 21, 2016
Recognia has detected a "Hammer" chart pattern formed on Ridley Corp Ltd (RIC:ASX). This bullish signal indicates that the stock price may rise from the close of 1.44.
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.

Mantra Group Ltd forms bullish "Continuation Wedge" chart pattern
Jan 21, 2016
Recognia has detected a "Continuation Wedge (Bullish)" chart pattern formed on Mantra Group Ltd (MTR:ASX). This bullish signal indicates that the stock price may rise from the close of 4.49 to the range of 5.25 - 5.45. The pattern formed over 17 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.

Magellan Flagship Fund Ltd forms bullish "Two Bar Reversal" chart pattern
Jan 21, 2016
Recognia has detected a "Two Bar Reversal (Bullish)" chart pattern formed on Magellan Flagship Fund Ltd (MFF:ASX). This bullish signal indicates that the stock price may rise from the close of 1.86.
Tells Me: Selling pressure showing signs of exhaustion; we may see higher prices at least in the short term. A Two-Bar Reversal (Bullish) forms during a prolonged downtrend and involves two exceptionally wide bars reflecting a change in psychology. The first bar develops strongly in the direction of the downtrend, though developing a wide range hinting at an underlying shift. The second bar opens near the previous low as sellers come into the session expecting more of the same, but they are ultimately disappointed as the price closes up very close to the high of the previous bar.