Carnarvon Petroleum Ltd forms bearish "Top Triangle" chart
2009-11-26 07:18:03.759 GMT
pattern
A "Top Triangle" chart pattern formed on Carnarvon Petroleum Ltd (Australian Stock Exchange). This bearish signal indicates that the price may fall from the close of 0.52 to the range of 0.25 - 0.29. The pattern formed over 92 days which is roughly the period of time in which the target price range may be achieved.
Carnarvon Petroleum Ltd has a current support price of $0.52 and a resistance level of $0.55.
A Top Triangle/Wedge is considered a bearish signal, indicating a possible reversal of the current uptrend to a new downtrend. The pattern is formed during an uptrend and shows two trendlines converging. The technical event occurs when the price breaks downward out of the Triangle/Wedge formation and closes below the lower trendline, thereby confirming the pattern.
Carnarvon Petroleum Ltd forms bearish "Top Triangle"...
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add CVN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
20.0¢ |
Change
-0.005(2.44%) |
Mkt cap ! $357.7M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 20.5¢ | 20.0¢ | $429.0K | 2.136M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 244630 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 293865 | 5 |
View Market Depth
| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| CVN (ASX) Chart |