NYSE:WWE been trading sideways for 4 months forming a 4 month rectangle chart pattern. A daily close below $41 support level will confirm the breakdown and a run to chart pattern price target.
AKTS been trading sideways for over 4 months forming a #rectangle chart pattern with $9.40 acting as a strong resistance.
A breakout and close above that level could set the stage for a strong rally to chart pattern price target identified on the chart.
Quite a few short plays are setting up on my watchlist. I've posted few yesterday and here is another one. An almost 4 month rectangle setup on NASDAQ:LIVN with the latest bounce from support stalling at the 20 MA and turning back down indicating possible weakness that could lead to a breakdown out of the rectangle chart pattern.
NYSE:TEVA has been trading sideways for 3 months forming a symmetrical triangle chart pattern. Symmetrical triangles could be a continuation or reversal pattern. That said, I am looking for the stock to breakout to the upside for a long trade.
NYSE:JBL holding well right below the $36 level of its ascending triangle chart pattern resistance boundary. A break of that level could set the stock for a run to chart pattern price target identified on the chart.
If you bought CAT's ascending triangle breakout yesterday, watch out for the weekly trendline resistance that is most likely going to get tested today ;). Its the reason I skipped this trade.
I posted about NYSE:ARD consolidation ascending triangle chartpattern a week ago. Today, the stock closed well above its 200 MA and at the same time close above pattern horizontal resistance line.
Chart from last week is here
NYSE:DOW I alerted to the breakout over the weekend and the stock made its move out of symmetrical resistance trend-line in today's session. Once in a trade, use your risk management skills and your pre-defined stop loss.
Post from the weekend.
