LAYN: Triangle, symmetrical
The breakout was downward so for the next few days, this will be heading down with a target price of 5.40. HOWEVER, I'm expecting this triangle to bust. Short now to ride it down but watch for pullback. Stoch RSI shows that the reversal may be after a few days. The bouncing off the MA also supports a possible reversal upwards. If/When pullback occurs, confirmed by a strong move up to show a true reversal, buy to cover and buy. The upward trend after a pullback on this one will be very good.
There is also a surge of insider trading recently, which also supports the busted triangle or pullback theory.
thepatternsite.com/st.html
There is also a surge of insider trading recently, which also supports the busted triangle or pullback theory.
thepatternsite.com/st.html
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