Jrussell86

PLAB Inverted head and shoulders

Long
NASDAQ:PLAB   Photronics, Inc
Earnings beat by 33 or .02 released this morning, Inverted head and shoulders on daily within larger symmetrical triangle on weekly. measure rule implies a 2.91 or 38.7% increase to PT $12.3.

If initial target is reached, symmetrical triangle will break out very bullishly (far away from apex; measuring rule for this implies a $19.84 gain or 165%!
Comment: Prior pattern failed; until breakout this pattern remains nuetral