tapkcir
Long

PDLI Bull - short term

NASDAQ:PDLI   PDL BIOPHARMA INC
PDLI             has clearly broken out of its triangle formation, confirming the pattern. Using the measure rule we can predict a best case price target of just over four dollars. PDLI             has already made half of that movement upward, so the risk-reward today is much less enticing than it was immediately after its breakout. It also broke out rather close to the apex of the triangle. which may suggest a weaker performance. Though, for those who are willing to take the risk (particularly considering the indecision shown in the last two candles and the low volume ), there may well be some profit left on this breakout.

Full disclose, I wont be trading this pattern. This is one I watched but declined to enter due to its weak volume on the breakout. Strong volume is a must for me to enter a trade, though many others ignore or put less emphasis on volume and I may come round to that way of thinking because of the large number of trades like this which have me sitting on my hands.

Were it not for the low volume requirement I would be sitting at a nice little profit. Still, I very much think that if you have a system you should stick with it even when it means watching from the sidelines and, for now, I avoid trades unless volume is strong on the price movement.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out