Event Date: | Sep 16, 2010 |
Opportunity Type: | Intermediate-Term Bullish |
Close Price: | $0.47 |
Target Price Range: | $0.69 - $0.75 |
A Continuation Wedge (Bullish) consists of two converging trend lines. The trend lines are slanted downward. Unlike the Triangles where the apex is pointed to the right, the apex of this pattern is slanted downwards at an angle. This is because prices edge steadily lower in a converging pattern i.e. there are lower highs and lower lows. A bullish signal occurs when prices break above the upper trend line.
Over the weeks or months that this pattern forms the trend appears downward but the long-term range is still upward.
Volume should diminish as the pattern forms.
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Price Crosses Moving Average (alerts on 21 day, 50 day, and 200 day)
Indicator
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2 comments:
Nice TA and charts. No doubt today was a much overdue impressive reversal. Just the start of good things to come.
RE
Yes sir!
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