Pennant Pattern with a large potential upside ~$110
Updated
I love the pennant pattern and if this is true to the rule of thumb then there's ~$40 of upside to this. Rule of thumb says to tack on the increase that created the pole for the pennant to the price when exiting the pennant. That put's it at 110/share.
See the definition at investopedia.com just search for "Pennant"
See the definition at investopedia.com just search for "Pennant"
Trade closed: stop reached
I hit my stop at $58 - this looks like it could drop to $52 level and I'll re-evaluate an entry point then
I'm not a financial advisor and I'm not offering financial advice. Everyone should do their own homework before making any decisions!
Good luck and I'm always interested in what you think.
Good luck and I'm always interested in what you think.
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