https://site.recognia.com/recognia_news ... Rg&lang=en
YPF Sociedad Anonima ADR Each Representing One Class D Ord Shs forms bullish "Bottom Triangle" chart pattern
Jul 02, 2013
Recognia has detected a "Bottom Triangle" chart pattern formed on YPF Sociedad Anonima ADR Each Representing One Class D Ord Shs (YPF:NYSE). This bullish signal indicates that the stock price may rise from the close of $15.07 to the range of $17.70 - $18.30. The pattern formed over 35 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 have reached a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation. A Bottom Triangle shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks above the upper trendline with a noticeable increase in volume, confirming this bullish pattern as a reversal of the prior downtrend.
This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.
0
inShare
Share
Recognia is the industry leader providing actionable investment research products for self-directed investors and traders. Our compelling product suite uses automated interpretation of technical, fundamental and value based analytics to help validate investment decisions, manage risk and find ideas. Recognia helps to automate the investment decision making process by offering dynamic and action-oriented research for all trader types and provides coverage of more than 50 exchanges worldwide, including stocks, equities, forex, indices, currencies and futures.
The Recognia Technical Analysis service is provided by Recognia Inc. This service is for informational purposes only. The information contained in this service does not constitute advice or a recommendation by Recognia Inc. in respect of the investment in financial instruments.
Technical Event® and Recognia® are registered trademarks of Recognia Inc.
