Symmetrical Triangle

NYSE:HRC   Hill-Rom Holdings Inc
Symmetrical Triangles can go either way. This one appears to be breaking to the upside.

HRC fell from a bearish rising wedge at 117.68 and fell the entire width of the wedge pattern. On average, stocks fall 35% if, and when price breaks the lower trendline of the wedge . A rising, narrowing wedge is usually bearish but is not valid until price breaks that bottom trendline. I have not seen too many stocks fall the possible target for a bearish RW , but this one did. To find entire target, simply find the bottom trendline and draw a parallel line.

The gap above will most likely cause R so beware. Some just shoot through the R of that window, but it is usually due to good news or an earnings beat, etc, if they do do it with ease. For some it will be a struggle, but most gaps fill, whether it is above you or below you. So gaps overhead do not bother me as much as gaps below me.

Just an observation