Agressive Gold Exploration Across the Americas

Victory Resources (TSX-V: VR) is a growing mineral exploration company developing the Reforma property in Sinoala, Mexico and the AU-WEN project in Merritt, BC.

Free
Message: VR.V July 20 2012 Bullish Williams %R

Victory Resources Corp

(VR:TSXV)


Event Details for: Williams %R

Tells Me: For bullish events, we seem to be in a new uptrend now that the price has recovered from oversold (dropped below -80 then rose above). The opposite is true for bearish events where we seem to be in a new downtrend now that the price has recovered from overbought. Meanwhile there is clear evidence that the trend has reversed (continued through the -50 level). Williams %R is built on the premise that as prices increase, "close" prices tend to be closer to the upper end of the recent price range, and vice versa. The oscillator looks at the most recent "close" price as a percentage of the high-to-low price range over a specified period of time (14 bars) so when %R is high, it's likely we're seeing upward pressure, and vice versa. The line fluctuates between 0 and -100 with -20 and -80 often used to identify overbought and oversold conditions.

Event Date:

Jul 20, 2012

Opportunity Type:

Short-Term Bullish

Close Price:


.33

Price Period:

Daily

Volume:

198,500

Share
New Message
Please login to post a reply