$ASC weekly chart C&H pattern breakout
Updated
ASC is another Oil&Gas shipper that is breaking out from a multi year consolidation/bottoming patternSince the OCT'16 low the stock has been trading/consolidating/bottoming inside a box (trading 5.00-9.05 range) with an attempt to break down during the DEC'18 capitulation
Starting with the summer 2018 the stock has formed a C&H pattern on the weekly chart
This week stock has broken out from both formations , with above avg vol and supportive MACD and RSI
Measured targets are by coincidence almost identical: T1 - from the C&H is 13.08 / T2 - from the box is 13.10
Trade closed: stop reached
Stop on the fake breakoutTA
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