St Barbara Ltd forms bullish "Engulfing Line" chart pattern Jan 28, 2016
Recognia has detected an "Engulfing Line (Bullish)" chart pattern formed on St Barbara Ltd (SBM:ASX). This bullish signal indicates that the stock price may rise from the close of 1.49.
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
Emerchants Ltd forms bullish "Hammer" chart pattern Jan 28, 2016
Recognia has detected a "Hammer" chart pattern formed on Emerchants Ltd (EML:ASX). This bullish signal indicates that the stock price may rise from the close of 0.98.
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
CSG Ltd forms bullish "Symmetrical Continuation Triangle" chart pattern Jan 28, 2016
Recognia has detected a "Symmetrical Continuation Triangle (Bullish)" chart pattern formed on CSG Ltd (CSV:ASX). This bullish signal indicates that the stock price may rise from the close of 1.71 to the range of 1.90 - 1.96. 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 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
Folkestone Education Trust forms bullish "Continuation Diamond" chart pattern Jan 28, 2016
Recognia has detected a "Continuation Diamond (Bullish)" chart pattern formed on Folkestone Education Trust (FET:ASX). This bullish signal indicates that the stock price may rise from the close of 2.24 to the range of 2.67 - 2.77. The pattern formed over 222 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.
