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LeLaf
Feb 16, 2021 12:10 AM

AREC: Bullish Pennant Long

American Resources CorporationNASDAQ

Description

Bullish Pennant
Pros:
Descending volume during formation
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 8
200MA ascending
250RSI above 50
Cons:
PPS could want to go back down to fill gaps.

Target:
PT = 13.21$

Comments
niceMeerkat24337
How do you feel about this one?
niceMeerkat24337
hey! do you still have the price target at 13.21 given it broken below the pendant?
LeLaf
@niceMeerkat24337, It is still within the red zone. Price action bounced off the bottom line of the red zone. It's your choice now to stay in or leave the trade.
niceMeerkat24337
@LeLaf, I got in already at 6.70 unfortunately
niceMeerkat24337
@LeLaf, Do you hold your PT of $13? Or is this headed downwards.. to fill the gap (which it did )
LeLaf
@niceMeerkat24337, Well, it was a Con. On top of that, that markets are red. The pennant probably failed. We will have to wait and see what the next move is.
niceMeerkat24337
@LeLaf, unfortunate ...hopefully it reaches 6.50 again
niceMeerkat24337
This is the gap you mentioned i am assuming. Or is the gap more around $5.77?
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