Alkane Exploration (ALK.AX)
Trading: BUY @ $0.225
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading position. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
Alkane Exploration (ASX:ALK) has formed a White Marubozu candlestick. This means, ALK has received strong buying confidence and upward price movement over the trading day with no upper or lower shadows present. Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.
This candlestick represents extreme bullishness and is characterized by a long white body having no shadows on either end.
Calculation: White Marubozu Candlestick:
1) The body of the candlestick is white and long;
2) There are no upper or lower shadows;
PROFILE: Alkane Exploration (ALK.AX)
Stock Exchange: ASX
Company: Alkane Exploration
Ticker Codes: | ALK.AX | ASX:ALK |
Alkane Resources Limited operates as a multi-commodity mining and exploration company in the Central West of New South Wales in eastern Australia. It explores for gold, copper, zirconium, hafnium, niobium, tantalum, yttrium, and rare earth elements. The company owns interest in the Tomingley Gold project and the Dubbo Zirconia project located in New South Wales. Its exploration projects comprise the Bodangora, Kaiser, Finns Crossing, Cudal, Peak Hill, Wellington, Elsienora, Rockley, and Orange East projects. Alkane Resources Limited is headquartered in Burswood, Australia.
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