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GuyInHat
Jan 2, 2021 3:10 AM

Ascending Channel Long

Constellation Brands, Inc.NYSE

Description

There is a small, but evident ascending channel forming on this chart. If it breaks out to the upside that would be bullish. I would target long term, a measured move of the triangle height. Shorter term I would scale out at the resistances of 229 and 234. If, and only if, it breaks the resistance with volume. Not financial advice.

Trade closed: stop reached

Failed Trade. Dropped below the support line.

Comment

Looks like this was a fakeout to the downside.
Comments
GuyInHat
I was overtired when I posted this wow. It is an ascending triangle obviously...
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