Descending Triangle Earnings 8-26 AMCWDAY is above the neckline of a multiple bottom/inverse head and shoulders pattern.
The neckline is a source of support after price is above it. The upper trendline of the triangle is also support once price is above it.
Large Descending Triangle and price is over the upper trendline which can now be a source of support. Descending triangles can break to the upside, ascending triangles can break to the downside. A triangle is a consolidation pattern and price forms a vacuum as the trendlines converge. Price will break one way or the other eventually. Possible stop under neckline or where you see support.
No recommendation
