Looking for APPS to break its 1.64 resistance. 50MA nicely acting as support (currently at 1.47). RSI in bullish territory.
symmetrical triangle (continuation pattern) measured move target
monthly RSI says otherwise...
Support & Resistance alternate !
20-week moving average combined with RSI - keep it simple.
looks like it wants to breakout higher...
at a strong resistance level... can it push through?
...then I'll ride that wave with a 2:1 R/R...
...if it can get through resistance, going with a 2:1 R/R
The S&P/ASX 200 Telecom bounced at the 78.6 retracement from its 2011 low to 2015 high... which coincides with its 2006 low... good R/R area.. from one Fibo level to the next.
Aside of that false breakout (circled) this has been (and still is?) great to play the range.