Adtran Inc. explosive breakout expected after sym. triangle!
Hello Traders!
For about a month now, the price of Adtran Inc. has been moving within a symmetrical triangle. A breakout is coming nearer and nearer, especially because of the divergence pattern with the MACD. The only question is if it will be a bullish or a bearish breakout. The divergence occurred while the price was still on an uptrend, which would indicate a bearish reversal, but the MACD crossing over the 9 EMA and the 100 SMA crossing over the 200 SMA are clear and strong bullish signals. The 50 SMA and the 100 SMA are rising, indicating bullish momentum, and it seems like the 200 SMA is about to grow as well. RSI seems indecisive but very centered, so we can expect the next trend to be quite strong and to maintain momentum for a long time. All in all, I believe an emerging uptrend to be more likely, but let´s wait for the price to break out and cross the support/resistance at 11.91 or 10.21.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
For about a month now, the price of Adtran Inc. has been moving within a symmetrical triangle. A breakout is coming nearer and nearer, especially because of the divergence pattern with the MACD. The only question is if it will be a bullish or a bearish breakout. The divergence occurred while the price was still on an uptrend, which would indicate a bearish reversal, but the MACD crossing over the 9 EMA and the 100 SMA crossing over the 200 SMA are clear and strong bullish signals. The 50 SMA and the 100 SMA are rising, indicating bullish momentum, and it seems like the 200 SMA is about to grow as well. RSI seems indecisive but very centered, so we can expect the next trend to be quite strong and to maintain momentum for a long time. All in all, I believe an emerging uptrend to be more likely, but let´s wait for the price to break out and cross the support/resistance at 11.91 or 10.21.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
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