TT Is showing signs that it wants to double top and I have drawn a channel that contains these tops.
Expect moves down as indicated by the placed bars pattern.
Double Tops are a bearish pattern.
An inverted H&S is also present in green which can be indicative of a trend change which supports the bearish theory.
Horizontal trading has been occurring for a long time Finally price has broken out of this range This break out will be spectacular as it moves out of this range
Short (Entry Price) below the black line and exit (Stop Loss) above the red line. Can take profit at the suggested Target Price.
Entry Price: $151.44
Target Price: $149.13
Stop Loss: $153.75
It looks like Trane Technologies is in a Bullish Bat formation that will reach bottom at around $146 which is also in confluence where the 1.618 fib lines up.
At this point TT should change directions and start on its next move higher.
Bullish BAT
VERTICAL DOTTED LINE is Ultra high volume down bar Higher volume-Professionals are buying into the public selling
Within 3-5 price bars need the confirmation from a Bullish CANDLE with RSI ABOVE 30
POTENTIAL BUY
target 200
Reported a solid quarter and guidance this morning, and the stock rallied. The industrials are rallying these days, finally. This has soared from $70 from last year's low to $179 today, including a 23% move YTD. It still has more room to run.
Prices formed a symmetrical triangle at the potential reversal zone as in the red circle and already broke the bottom boundary of the triangle
Which increases the likelihood of reaching the targets
SHORT for
T1 118.40
T2 100.00
SL closing up 165.60
