PENN - Inverse H&S formation Long from $15.50 to $17.27
Updated
PENN has broken out of a previous downward channel & now seems forming a inverse Head & Shoulder formation.
It also looking like a ascending triangle breakout with significant increase in moneyflow. We think it will test its next resistance around $17.30
* Trade Criteria *
Date First Found- March 15, 2017
Pattern/Why- Inverse H&S
Entry Target Criteria- Break of $15.50
Exit Target Criteria- $17.27
Stop Loss Criteria- $14.74
Please check back for Trade updates. (Note: Trade update is little delayed here.)
It also looking like a ascending triangle breakout with significant increase in moneyflow. We think it will test its next resistance around $17.30
* Trade Criteria *
Date First Found- March 15, 2017
Pattern/Why- Inverse H&S
Entry Target Criteria- Break of $15.50
Exit Target Criteria- $17.27
Stop Loss Criteria- $14.74
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
March 17th- Hit entry, updating our stop loss criteria to $15.03Comment
March 23rd- awesome move higher on huge volume closing at the top of its range. Missed our target by 6 cents. We would consider taking some profits in this range.Comment
March 24th - Wow! Another brilliant upward move hitting our target price. Wonderful trade.Trade closed: target reached
March 24th - Wow! Another brilliant upward move hitting our target price. Wonderful trade.
Like what you see? Get full access to our 3X daily members only video/txt alerts & live trading room at smartmoneytrading.com/now
Check out some of our free video examples @ smartmoneytrading.com/insights/
Check out some of our free video examples @ smartmoneytrading.com/insights/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.