RAC - Charts & Price Action, page-5921

I am a primarily purely technical breakout trader but have always enjoyed your posts, especially on the
fundamental side, an area in which I consider myself no expert. Your thorough input is much appreciated
by me, as I see it is by many others
Did not look at a Logarithmic chart here till I saw your quoted post. That is indeed a nice long duration
channel.
Both from a Logarithmic and Linear perspective there is a Symmetrical Triangle forming on the daily chart,
which provides a decently definable entry for those not yet on board (like myself, who unfortunately missed
a very good opportunity at around 2.00). Symmetrical Triangles are tricky patterns to trade and owing to the
non-horizontal boundaries tend to morph quite often, but the weekly chart gives me more confidence in this
opportunity, should it break to the upside on good volume.
The 18-week SMA has provided very good support until now and this consolidation seems very
similar to previous ones in terms of duration and volume. I will take a shot at an entry if it materializes.
GLTA