WKHS confirmed breakout out of ascending trianle pattern. Few things you need to look for a perfect play in this pattern:
1. Ascending triangle are the most reliable in an uptrend, ideally when its formed after golden cross of 50 and 200 SMA.
2. Must have higher lows with increased short selling activity near horizontal upper line.
3. If you have breakout and on top of that you have new 52 weeks height, you have a confirmed winner. It will be happening for many days in the row :).
4. Be aware that price may go much higher if all of this things are in place. Usually traders take profit on pattern's height but it is not the limit, just short term target.
5. Calmly react on short whining that will be all over the social media. But this is important confirmation that you are in the right place going long here. Some people just never learn, they will keep on shorting the stock where lows are higher and higher and pay no attention to that. Denial... Then on the breakout many shorts will add more to their position and often they go all in. Be happy about that, those are your buyers at your target level. There is nothing new you can learn from a second kick from the horse. I am sure Workhorse will punish some losers many times because they never learn.
Good luck on your investment. If you made money after reading this, please thank me by liking this post. That will encourage me to post many more of my picks. Thank you
