The symmetrical triangle is mainly considered to be a continuation pattern that signals a period of consolidation in a trend followed by a resumption of the prior trend.
It is formed when investors are unsure of a stock’s value. Once the pattern is broken, investors jump on the bandwagon, shooting the stock price north or south.
break in the opposite direction of...
Expecting a break out of the neck line to 149 associated with increase in volume . The price is slightly below MA 10 and 50 days and there is going to be a change of the trend once it above it .
The pattern : Bearish Bat .
Target : D1 = 13.35 and or
D2 =17.82
conditions :
A positive cross in TSI upward .
and break up B .
Resistant : 10.44
Support : 8.71 and 7.77
Stop loss : A