joshuanroberts
Long

EXC: Triangle, symmetrical, busted

NYSE:EXC   EXELON CORP
The long downward price trend leading to the triangle indicated that it should be an upward breakout. However, the downward breakout left me waiting for the pullback. That pullback has just started occurring after a good surprise earnings report. That and the Stoch RSI indicating a shift to more buying pressure, shows that this triangle is busted and should be heading upwards with a strong movement.

http://thepatternsite.com/Blog-Oct15.html#P23
http://thepatternsite.com/st.html
http://thepatternsite.com/BustSymTriangles.html
Comment: Forgot to mention that the news of the merger is kinda a big deal, stacked with a strong earnings report, which again means this stock will be headed upward with strong momentum.

http://www.fool.com/investing/general/2015/11/02/should-you-invest-in-this-divided-stock-merger.aspx?source=eogyholnk0000001&utm_source=yahoo&utm_medium=feed&utm_campaign=article
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