What a good looking chart!
After a massive bull run, the price has formed a descending triangle. Normally, if an upward breakout does occur, another good bull run should follow. I'll be waiting for it to buy.
This one really looks like a true leader to me. Impressive relative strength, that is best indicator in a bear market.
Not the ideal setup but good potential.
Trade: Active
Entry: 22.88
Stop: 18.29
Target1: 27.46 (50% of Position)
Target2: 30.89 (25% of Position)
Target2: 34.33 (25% of Position)
Personal Log
Investors seem to expect strong a strong earnings result from ULH tomorrow, given the big pop above its pennant today. I'm not going to buy it, however. This breakout comes a little too early in the pennant pattern for my comfort. Also, the big run up ahead of earnings may be setting this stock up for disappointment.
