Pennant pattern: Looking for a break out
Updated
Large volume on 11/20 started the pattern - it's been consolidating ever since. I think that when the stock close above ~8.40 it'll signal the breakout. Then it looks like it could be on a ride to ~18. I picked up a boatload in the 7's and I'd love to see this triple.
Note
Looks like this is going to break out today - I'm predicting that this will go to +10/share from today's closeNote
I'm going to reevaluate this, doesn't appear to be a pennant pattern as I once thought, but a rising channel. Which is fine, but what's concerning me is the drop below the 9 and 20 day MA. If this doesn't bounce up next week, OR it drops closer to the 50 DMA -I'll evaluate closing my positions.
here's what I'm seeing...
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.
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.