Potential Breakout of Bullish Pennant
Updated
Potential breakout to the upside or downside of this pennant. I believe it's more likely to break upwards, as there is a very strong rising bid for support that's held up for weeks and won't budge. It's about to meet the downward sloping resistance and lead to a breakout. With potential good news coming out early next week, very high potential for a strong upwards breakout. Buy on breakout on high volume, stop below rising support line or below previous low.
Note
Breakout of triangle occurred only to sell off immediately into support at top of triangle. Not a convincing breakout unless it goes again in the short-term. In the meanwhile, keep stops below swing lows and take profits at top of the slowly rising channel.
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