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Message: GSR.V Bullish Technical Events August 2, 2013
Goldstrike Resources Ltd
(GSR:TSXV)
Event Details for: Price Crosses 50-Day Moving Average
| Tells Me: The price is generally in an established trend (bullish or bearish) for the time horizon represented by the moving average period (21, 50 or 200 bars). Moving averages are used to smooth out the volatility or "noise" in the price series, to make it easier to discover the underlying trend. By plotting the average price over the last several bars, the line is less "jerky" than plotting the actual prices. A bullish event is generated when the price crosses above the moving average, and in this state, the price is likely in an established uptrend. The opposite is true when the price crosses below the moving average, triggered a bearish event. | ||||||||||||
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Goldstrike Resources Ltd
(GSR:TSXV)
Event Details for: Bullish Gravestone
| Tells Me: The bears have sustained control over the downtrend, but the period has shown a surge of bullish demand that suggests we are nearing a bottom. During a downtrend, the bar opens at its low (or very close to its low), then rallies preferably making a new high, but isn't able to sustain the move and closes back down near the open. The bulls have lost the battle but have shown some strength during this period. It's possible we are nearing a bottom. | |||||||||||||
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