Shares - ASX - Paladin. Ascending triangle get long
Shares ASX - Paladin. Paladin appears to be bottoming out. Possible double bottom. So we have a reversal pattern as a starting point. We then started forming an ascending triangle with resistance at 0.66. RSI on the triangle is stronger suggesting the triangle should breakout to the upside. We have a dragonfly doji recently also suggesting bullish price action.
RSI is higher as the triangle forms.
Volume is low as the pattern forms especially on the sells.
STO has dropped to 14 on the recent low so it is primed for a bounce.
Entry. More risk adverse traders would enter on the break up of the 0.66 range. Less risk adverse traders enter at the bottom of the ascending triangle. Pretty much now. I bought now.
Target 1 is 0.75.
Stop loss 0.57.
Current price is 0.615.
RSI is higher as the triangle forms.
Volume is low as the pattern forms especially on the sells.
STO has dropped to 14 on the recent low so it is primed for a bounce.
Entry. More risk adverse traders would enter on the break up of the 0.66 range. Less risk adverse traders enter at the bottom of the ascending triangle. Pretty much now. I bought now.
Target 1 is 0.75.
Stop loss 0.57.
Current price is 0.615.