Another breakout setup reaching its chart pattern price target. I posted about this trade setup here
Broke out of 3 months rectangle and pulling back/testing rectangle lower boundary.
I posed about this trade forming on August 9th link below. GH reached its ascending triangle price target.
I've posted twice about H&S forming. Nothing is certain in trading. Example of a failed breakdown. Always have a strategy around your exits and trade management. Identifying the chart pattern is the easy part, the hard part is managing your trades after you enter them.
QSR been consolidating its gains after its run up from covid19 bottom. Stock is forming 3+ months ascending triangle and seems ready to begin its next move. Symmetrical triangles (unlike Ascending and Descending triangles) could end up becoming a trend reversal or continuation patterns depending on the direction they breakout into. the 200 MA is smack in the...
Bulls failing to close back above pre-covid19 Feb high with shooting star reversal daily close at critical level. This so far looks like a failed breakout attempt. Next stop 3230 (if 3400 not remounted before the week is over). #SPY #ES #S&P500
A daily close below $4.90 will complete the chart pattern and set the stage to a possible next leg lower.
Posted about this setting up on September 12th and listed 3 reason why this is a nice looking setup. Rectangle range is pretty tight so target around $45. see the post here
WEC entering breakout mode closing above $96 last week. The stock could start its run against its all time highs around $105-$107.
I was shaken out on Sept 11th (w/profits) on that big red bar only for the stock to turn around & reach target.
Watch EMN next week. The stock held up extremely well with the broad market selling off. Higher prices might be in the works next week.
NYSE:FICO had 2 daily closes above its ALL time highs showing signs it wants to breakout of its 2 months rectangle consolidation chart pattern. Keep it Simple!
NASDAQ:CWST is forming a 5 and a half months Cup and Handle chart patter on weekly scale. A decisive daily close above pattern horizontal resistance will set the stage to a sizable rally and into All time High (ATH) territory. #KeepItSimple
and there goes REAL. Breaking out of its 3+ months rectangle chart pattern. Rectangle chart pattern price target added to the chart. i have alerted to this stock twice before. here is the latest chart i posted right before the breakout explaining why this setup is very promising and high probability trade.
It doesn't get any better than this. 3 plus months of consolidation with a clear chart pattern horizontal resistance line. Stock held up pretty good in today's market reversal and sell off. Get this on you watch list.
3 reasons to like this rectangle breakout chart pattern. A daily close above $36.75 will: 1) Confirm breakout above 200 MA 2) Clear 2 month consolidation chart pattern 3) Clear weekly down sloping trend line (red dotted line on chart)
A 5 months consolidation pattern (low volatility period) will ultimately lead to a trend.
RYAM showing relative strength with buying pressure the last 3 days and breakout from 3 month ascending triangle chart pattern today. Price target up around $5 and identified on the chart.