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Eclipx Group Ltd forms bullish "Flag" chart patternApr 19,...

  1. Jackthelad55
    151 Posts.
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    20/04/21
    08:47
    Post #: 52581810

    Eclipx Group Ltd forms bullish "Flag" chart pattern
    Apr 19, 2021

    Trading Central has detected a "Flag (Bullish)" chart pattern formed on Eclipx Group Ltd (ECX:ASX). This bullish signal indicates that the stock price may rise from the close of2.08to the range of2.28-2.34. 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.

    This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.

    Price Chart - Eclipx Group Ltd

    ECX Price at posting: $2.08 Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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$3.52 		Change
0.030(0.86%) 		Mkt cap ! $842.3M
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$3.46 $3.55 $3.46 $1.007M 286.4K

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No. Vol. Price($)
1 5 $3.50
 

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Price($) Vol. No.
$3.52 274 1
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