@zillionare_zone on the grind as always. Here we have an extremely lucrative scenario that I have served up on a platter for you all. Not only do we see an end to a trend, singling a reversal, and a drastic one at that, but there will be a ridiculous amount of volume today as well because of the earnings report release today. The long signal is very favorable, even for short term/swing trading investors. That is because Calumet Specialty Product is seeing FAVORABLE earnings estimate REVISION activity as of late February, which is generally a precursor to an earnings beat and a long term trend change. After all said and done, analysts raising estimates just before earnings with the most up-to-date information possible is a very good indicator of some favorable trends under the surface for CLMT. Also some notable information about the value of this stock is that for the current quarter is currently at a loss of 67 cents per share for CLMT, compared to a broader "Zacks" Estimate of a loss of 73 cents per share. This is suggesting that analysts have very recently bumped up their estimates for CLMT, giving the stock a ""Zacks Earnings ESP of 8.22% heading into earnings season."" Do not buy immediately, wait for the first candle to materialize, and take a position accordingly.
Not sure why you would buy while it is still inside the triangle, especially since price hasn't broken that resistance trendline you have. I realize you would not have bought this based on the candle that formed, so I would put an entry above the resistance trendline and the stop loss below it, with a target of 4.50/