TORCHLIGHT ENERGY RESOURCES

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Type:	Stocks
Ticker:	TRCH
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TORCHLIGHT ENERGY RESOURCES - Daily - Technical analysis published on 06/21/2021 (GMT)

Timeframe : Daily
- Analysis generated on
Status : WITHOUT TARGET

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TORCHLIGHT ENERGY RESOURCES Chart

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

94%

My opinion

Bullish above 5.83 USD

My targets

My analysis

TORCHLIGHT ENERGY RESOURCES is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 5.83 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

9.1

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by aba0550.

Additional analysis

Quotes

TORCHLIGHT ENERGY RESOURCES rating 6.27 USD. The price has increased by +16.11% since the last closing and was between 5.30 USD and 6.50 USD. This implies that the price is at +18.30% from its lowest and at -3.54% from its highest.

5.30

6.50

6.27

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Technical

A technical analysis in Daily of this TORCHLIGHT ENERGY RESOURCES chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price
ProTrendLines	3.24	4.00	5.83	6.27
Change (%)	-48.33%	-36.20%	-7.02%	-
Change	-3.03	-2.27	-0.44	-
Level	Intermediate	Major	Major	-

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	4.35	4.82	5.55	6.02	6.75	7.22	7.95
Camarilla	5.94	6.05	6.16	6.27	6.38	6.49	6.60
Woodie	4.47	4.89	5.67	6.09	6.87	7.29	8.07
Fibonacci	4.82	5.28	5.57	6.02	6.48	6.77	7.22

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.70	2.01	4.14	5.45	7.58	8.89	11.02
Camarilla	5.32	5.64	5.96	6.27	6.59	6.90	7.22
Woodie	1.11	2.22	4.55	5.66	7.99	9.10	11.43
Fibonacci	2.01	3.32	4.14	5.45	6.76	7.58	8.89

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.16	1.42	1.90	2.16	2.64	2.90	3.38
Camarilla	2.18	2.24	2.31	2.38	2.45	2.52	2.58
Woodie	1.27	1.48	2.01	2.22	2.75	2.96	3.49
Fibonacci	1.42	1.70	1.88	2.16	2.44	2.62	2.90

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	81.82
MACD (12,26,9):	0.8700
Directional Movement:	44.90
AROON (14):	85.71
DEMA (21):	4.71
Parabolic SAR (0,02-0,02-0,2):	4.56
Elder Ray (13):	1.68
Super Trend (3,10):	4.17
Zig ZAG (10):	6.27
VORTEX (21):	1.1500
Stochastique (14,3,5):	80.33
TEMA (21):	5.34
Williams %R (14):	-11.26
Chande Momentum Oscillator (20):	3.49
Repulse (5,40,3):	21.1100
ROCnROLL:	1
TRIX (15,9):	3.1000
Courbe Coppock:	192.28

MA7:	4.63
MA20:	3.35
MA50:	2.48
MA100:	2.37
MAexp7:	4.95
MAexp20:	3.73
MAexp50:	2.87
MAexp100:	2.34
Price / MA7:	+35.42%
Price / MA20:	+87.16%
Price / MA50:	+152.82%
Price / MA100:	+164.56%
Price / MAexp7:	+26.67%
Price / MAexp20:	+68.10%
Price / MAexp50:	+118.47%
Price / MAexp100:	+167.95%

Quotes : - 15 min delayed data - NASDAQ Stocks

News

Don't forget to follow the news on TORCHLIGHT ENERGY RESOURCES. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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