KSU fell from the bearish rising wedge
(NSC and UNP have both taken a brief dip out of their own rising wedges.) KSU fell a bit further than those 2, but it is not over yet I guess
Now KSU has broken upper trendline of a bullish falling wedge.
Falling wedges are almost always bullish if price breaks up and out
Rising wedges are almost always bearish eventually, but can be very long term patterns. If you are in a stock rising in a RW, just keep an eye on bottom trendline. In order for the rising wedge pattern to be valid, price has to break down through the bottom trendline
The same for a FW
FWs and RWs differ from pennants in that it takes at least 3 weeks to form a wedge pattern
They differ from triangles in that both trendlines slope in the same direction
They differ from flags due to the slope of a wedge and the apex.
Not a recommendation
(NSC and UNP have both taken a brief dip out of their own rising wedges.) KSU fell a bit further than those 2, but it is not over yet I guess
Now KSU has broken upper trendline of a bullish falling wedge.
Falling wedges are almost always bullish if price breaks up and out
Rising wedges are almost always bearish eventually, but can be very long term patterns. If you are in a stock rising in a RW, just keep an eye on bottom trendline. In order for the rising wedge pattern to be valid, price has to break down through the bottom trendline
The same for a FW
FWs and RWs differ from pennants in that it takes at least 3 weeks to form a wedge pattern
They differ from triangles in that both trendlines slope in the same direction
They differ from flags due to the slope of a wedge and the apex.
Not a recommendation
Comment:
Overbought on RSI