Arian Silver Corporation forms bullish "Continuation Wedge" chart pattern
Jan 15, 2013

Recognia has detected a "Continuation Wedge (Bullish)" chart pattern formed on Arian Silver Corporation (AGQ:TSXV). This bullish signal indicates that the stock price may rise from the close of $2.45 to the range of $3.60 - $3.90. The pattern formed over 73 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: After a temporary interruption, the prior uptrend is set to continue. A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.

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


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, 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.

Recognia products and services are protected under U.S. Patent Nos.: 6,801,201; 7,469,226; 7,469,238; 7,835,966; and 7,853,506; and corresponding foreign patents.