DeclanTroy

DGE Ascending Wedge RR 5:1

Long
LSE:DGE   DIAGEO PLC ORD 28 101/108P
130 views
2
An ascending wedge pattern has emerged on the daily DGE chart, there's a clear line of support from the past months in this stock which has recently been met which will result in the price going higher as this stock bounces off support as seen in the previous months. Once it continues to rise it will be facing the resistance level for a third time at 2873.0, I'm expecting there to be consolidation between 2835.5-2873.5 before pushing through resistance.

My game plan would be the following:

Trigger: 2791.1
TP: 3040.1
SL: 2741.1
RR: 5:1