This triangle target may seem to be a stretch at first glance, but stay with me and I'll explain. About 75% of symmetrical triangles are continuation patterns and the rest mark reversals. Our target in this instance is just above the previous, well-established support line, at $550. A touch of the upper triangle resistance line around $619 would not be a surprise, but I won't be waiting for it.
I'm watching for price to move to a bounce at the bottom of the old trend channel (red line with blue-ish fill) then downward to our target zone. *Please*, if you have any input or opinion on this chart, chime in.
For a more robust explanation/support of this projection, go here: http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle