Wait & Watch: Ascending Triangle pattern on the chart

2020년 7월 10일

Ascending Triangle Confirmation:
- There are 2 swing highs touching the horizontal line
- There are 2 swing lows touching the other triangle line
- Before the triangle, the stock was trending with strong volumes
- In the triangle, the stock is getting consolidated with contracted volumes

Interpretation:
- Ascending Triangle is a continuation pattern
- Here it is getting created after an uptrend
- If it breaks out from the triangle with high volume, it can continue the uptrend with target price equal to horizontal line + the base of the triangle
- If a false breakout occurs, with low volume, it can breakdown and downside can be of similar magnitude

Conclusion:
Wait for the stock to move out of Triangle to see which breakout occurs. (positive/false)
As it is a trend continuation pattern, It should be positive breakout ideally as per the chart.

2020년 8월 18일

거래청산: 타겟 닿음

Target achieved as predicted. :)