Chartimistic

CFX - Breakout Within Ascending Channel

Long
NYSE:CFX   Colfax Corporation
Colfax Corporation has been trading within an ascending channel since early October. It briefly opened below the channel support line on December 3rd but found support along the 50-day EMA line to regain the channel.

An intermediary symmetrical triangle pattern was created from the November 1st top & we have just seen a bullish breakout of this symmetrical pattern. Potential price targets are noted on the chart.

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