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Message: GSR.V Aug 2 2012 Bullish Symmetrical Continuation Triangle

Goldstrike Resources Ltd

(GSR:TSXV)

Event Details for: Symmetrical Continuation Triangle (Bullish)

Tells Me: The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend. A Symmetrical Continuation Triangle (Bullish) 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 out above the upper trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior uptrend.

Event Date:

Aug 02, 2012

Opportunity Type:

Intermediate-Term Bullish

Close Price:


.39

Target Price Range:


.52 -.56

Price Period:

Daily

Volume:

9,466

Pattern Duration:

24 days

Inbound Trend Duration:

53 days

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