SXT 0.00% 2.2¢ stratum metals limited

SXT--technical breakout looming

  1. 10,027 Posts.
    lightbulb Created with Sketch. 625
    Been watching this chart since the initial breakout from the 27/7/15 which was previously its last spike from 05/01/15 but this time the volume was a lot higher. Has formed a delicious formation at the moment (bullish ascending triangle formation) This formation is the most bullish out of all the flags, pennants and wedges.. REASON.. It is a bullish signal, whether encountered in an up- or down-trend. It is most often observed as a continuation pattern in an up-trend but is a strong reversal signal when witnessed in a down-trend .. Also of note the volume has decreased in the formation which  is a good indication of the pattern to play out.. All we need is the break-out volume to rapidly increase for a buy signal ..

    My ST target is 4c++
    sxt3.jpg
 
watchlist Created with Sketch. Add SXT (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.