- "Inside Bar (Bullish)" pattern identified on Quebecor Inc (QBR.B:TSX).
- Bullish signal indicates potential stock price increase from $31.52 close.
- Buyers and sellers' balance, previously dominated by bears, is equalizing.
- Expectation of higher prices in the future.
- Inside Bar forms in strong downtrend with trading range contained within prior bar.
- Signifies a more balanced state between buyers and sellers.
- Bears' power weakens while bulls' power strengthens.
- "Inside Bar (Bullish)" pattern identified on Saputo Inc (SAP:TSX).
- Bullish signal indicates potential stock price increase from $29.63 close.
- Buyers and sellers' balance, previously bear-dominated, is leveling out.
- Expectation of higher prices in the future.
- Inside Bar forms within prior bar during a strong downtrend.
- Implies a more balanced state between buyers and sellers.
- Bears' power weakens while bulls' power strengthens.
- "Triple Bottom" chart pattern identified on Performance Food Group Co (PFGC:NYSE) - 5% upside
- Bullish signal suggests potential stock price increase from $57.77 close.
- Expected price range is $59.50 - $60.00.
- The pattern formed over a period of 24 days, aligning with the estimated time to reach the target price range based on technical analysis principles.
- Suggests a possible trend reversal from a bottom to an uptrend.
- The Triple Bottom pattern begins with a downward price movement.
- Three distinct lows occur at approximately the same price level, indicating a test of support.
- Volume decreases with each subsequent low and surges when the price surpasses the highest high.
- This breakout above the resistance level confirms a bullish price reversal.
- A "Continuation Wedge (Bullish)" chart pattern identified on Equinox Gold Corp (EQX:NYSE-MKT) - 34% upside
- Bullish signal suggests potential stock price increase from $4.60 close.
- Expected price range is $5.90 - $6.20.
- The pattern formed over a period of 33 days, aligning with the estimated time to reach the target price range based on technical analysis principles.
- Indicates a temporary interruption in an ongoing uptrend.
- The pattern consists of two converging trendlines slanting downward against the trend.
- Bears attempt to gain control over bulls during this phase.
- Ultimately, the bulls emerge victorious as the price breaks above the upper trendline.
- This breakout confirms the continuation of the prior uptrend.
- "Bottom Triangle" chart pattern identified on Total Energy Services Inc (TOT:TSX) - 17% upside
- Bullish signal suggests potential stock price increase from $8.70 close.
- Expected price range is $10.00 - $10.30.
- The pattern formed over a period of 35 days, aligning with the estimated time to reach the target price range based on technical analysis principles.
- Indicates a potential bottom formation and signs of a price reversal.
- The pattern consists of two converging trendlines with lower highs and higher lows.
- Volume decreases as the price fluctuates within a narrowing range, reflecting market uncertainty.
- Before reaching the apex of the triangle, the price breaks above the upper trendline.
- This breakout is accompanied by a notable increase in volume, confirming a bullish pattern.
- The pattern signifies a reversal of the prior downtrend.
- A "Double Bottom" chart pattern identified on Exelixis Inc (EXEL:NASDAQ) - 5% upside
- Bullish signal suggests potential stock price increase from $19.88 close.
- Expected price range is $20.45 - $20.65.
- The pattern formed over a period of 22 days, aligning with the estimated time to reach the target price range based on technical analysis principles.
- Indicates a potential bottom formation after failing to break a support level.
- The pattern consists of two distinct lows at approximately the same price level.
- Volume indicates diminishing downward pressure as the pattern develops.
- Pickup in volume occurs at each low, with less volume at the second low.
- Eventually, the price breaks above the highest high to confirm the bullish signal.
- The pattern signifies a reversal to a new uptrend.
- A "Symmetrical Continuation Triangle (Bullish)" chart pattern identified on Monster Beverage Corp (MNST:NASDAQ).
- Bullish signal suggests potential stock price increase from $59.69 close.
- Expected price range is $62.80 - $63.60.
- The pattern formed over a period of 34 days, aligning with the estimated time to reach the target price range based on technical analysis principles.
- Indicates a breakout from a consolidation period, indicating a continuation of the previous uptrend.
- The pattern consists of two converging trendlines with lower highs and higher lows.
- Volume decreases as the price fluctuates within a narrowing range, reflecting market uncertainty.
- Prior to reaching the apex of the triangle, the price breaks above the upper trendline.
- This breakout is accompanied by a noticeable increase in volume, confirming the pattern as a continuation of the previous uptrend.
