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Juliac
Jun 17, 2022 12:57 PM

LU - Ascending Triangle  Long

Lufax Holding LtdNYSE

Description

Bullish argument for LU:
1. higher lows (over the past 3 mths) with every dip leading to the formation of an Ascending Triangle.
2. now above 200 days moving average

Waiting to see if a close above 6.43 neckline would materialise in the coming weeks, preferably on good volume.

p/s the odds of breaking towards the horizontal side is higher for right angle triangles.
ie upside for an ascending triangle and to the downside for a descending triangle.

Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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