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MEK.V Jan 13 2014 Bullish Double MA Crossover | by TekInvestor
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MEK.V Jan 13 2014 Bullish Double MA Crossover

Metals Creek Resources Corp

(MEK:TSXV)

 

Event Details for: Bullish Commodity Channel Index

 

Tells Me: The price is relatively far from its 20-bar average price. The Commodity Channel Index (CCI) measures the deviation of the price from its average value (comparing to a chosen moving average, typically 20 bars). The oscillator is normalized by dividing by the typical deviation, so we get an oscillator fluctuating roughly between +100 and -100. Many traders use these as overbought (+100)/oversold(-100) markers and watch for signs of reversal, but original use was to consider long positions when CCI is above +100 (bullish event), and short when below -100 (bearish event). When the price crosses back in between +100 and -100, another event is triggered to indicate an end to the prior bullish or bearish situation and a possible opportunity to close out such a position.

Event Date:Jan 14, 2014

Opportunity Type:Short-Term Bullish

Close Price:$0.03

Price Period:Daily

Volume:635,000

 

 

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Taken on January 15, 2014