BRIGADE - A stock to watchThe stock is attempting to cross the previous Rejection zone with Buying Climax like Bar. Relative strength, Money flow is positive and increasing. Delivery Volumes in the last two sessions has ben high. If we have a good quality close above 1108 the stock will move much higher. Need some caution here because of the Very high Volume “BC” bar. The BC Bar supply may provide some resistance for further up move albeit for short term.
VAS
ASX200 daily- Rising Wedge+failed to break 38.2% Fib retracemASX200 daily- Rising Wedge + Failed to break 38.2% Fib retracement.
According to Thomas Bulkowski "Rising Wedges, especially for downward breakouts, are some of the worst performing chart patterns. Downward breakouts have an unacceptably high failure rate and small post breakout declines. Also, throwbacks and pullbacks occur 72% of the time."
Breakout for Rising Wedges: Can be in either direction, 60% of the time downwards.