head & shoulders + ascen tri + downtrend resistance now support
1) head and shoulders in blue at cusp of breakout area - wait for breakout confirmation before going long. Target is solid blue star
2) pink line downtrend resistance now acting as support since breakout in mid-november also a descending wedge which has broken out to the top. pink arrow cloned for this secondary target (solid pink star)
3) red lines are an ascending triangle of which has the same confirmation level for the head and shoulders.
red arrow cloned to estimate target.
Summary - enter $12.22/5, exit $14'ish for a 12% return by May 2017
2) pink line downtrend resistance now acting as support since breakout in mid-november also a descending wedge which has broken out to the top. pink arrow cloned for this secondary target (solid pink star)
3) red lines are an ascending triangle of which has the same confirmation level for the head and shoulders.
red arrow cloned to estimate target.
Summary - enter $12.22/5, exit $14'ish for a 12% return by May 2017
Trade active:
trade opened. stop of $12.15 set (keep the thumbs up coming:))