2waytrading

Bullish Bottom Triangle

Long
BATS:MNST   Monster Beverage Corporation
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A few weeks ago, we recommended a short from $54 with target price $40 it achieved half way that target price, and price reversed its downside pressure to upside momentum. It seems the price bottomed now and may breakout upside. This bullish bottom triangle has a measured move to $62 area that can be achieved in 2-8 weeks. If you are in this trade long side make your stop loss at recent swing low at $47.08 or Friday's low with target price $62. Join us http://www.woowtrading.net where serious traders come and trade!