Description
⋅ On the chart of LKQ, we can see a forming ascending triangle and we can see hidden bullish divergence on daily timeframe.
An ascending triangle is a bullish formation. The pattern gets validated when the price breaks out of the upside of the pattern.
By using the Relative Strength Index we can hidden bullish divergence.
A long position can be taken when the resistance of the triangle turns into a support.
See all further details on the chart.
Goodluck!
Trade active
⋅ We got a breakout and the pullback with a small fakeout and the support confirmation. LKQ is ready to continue higher
Comment
⋅ buyers still strong.
Comment
⋅ Strong resistance at 58-59$
Expecting the price to retest 47$ again