Up on earnings. beware of unfilled gap below price
Possible T2: 160
I also see a few Symmetric triangles but targets for those virtually the same as the falling wedge pattern. If this keeps going up, I am thinking it will become a cup and handle. It would need to move up quite a bit though to do that.
Falling wedges are often bullish especially at the bottom. They can signal a reversal to an extended downtrend. I like trading them because most often I am trading a stock that is very close to the bottom. The risk reward can be substantial. Price must break the upper trend line of the falling wedge in a clear up trend
Rising wedges, are long term patterns and a stock can travel up in one for a long time. Ehth is still in a falling wedge. CBOE and CME have broken out of the falling wedgeRising wedges are the opposite of falling wedges..lol.
Rising wedges are usually found closer to the top and can signal a reversal down for a while. Rising wedges can also be found a lot mid chart after an uptrend has been in place. HON has a very small rising edge right now. A stong stock may just dip out and recover quickly. Then others fall out like LLY and go down quite a bit and spend a long time correcting. Rising wedges are almost always Bearish. It is ok to trade the stock if in one, just watch the lower trend line of the rising wedge. I usually wait until they fall out. CIEN is falling out right now.
I thow I may have misworded the chart. B?O from falling wedge is 116. Targets from breakout are above
Not a recommendation
Possible T2: 160
I also see a few Symmetric triangles but targets for those virtually the same as the falling wedge pattern. If this keeps going up, I am thinking it will become a cup and handle. It would need to move up quite a bit though to do that.
Falling wedges are often bullish especially at the bottom. They can signal a reversal to an extended downtrend. I like trading them because most often I am trading a stock that is very close to the bottom. The risk reward can be substantial. Price must break the upper trend line of the falling wedge in a clear up trend
Rising wedges, are long term patterns and a stock can travel up in one for a long time. Ehth is still in a falling wedge. CBOE and CME have broken out of the falling wedgeRising wedges are the opposite of falling wedges..lol.
Rising wedges are usually found closer to the top and can signal a reversal down for a while. Rising wedges can also be found a lot mid chart after an uptrend has been in place. HON has a very small rising edge right now. A stong stock may just dip out and recover quickly. Then others fall out like LLY and go down quite a bit and spend a long time correcting. Rising wedges are almost always Bearish. It is ok to trade the stock if in one, just watch the lower trend line of the rising wedge. I usually wait until they fall out. CIEN is falling out right now.
I thow I may have misworded the chart. B?O from falling wedge is 116. Targets from breakout are above
Not a recommendation