April charts, page-28

Maybe need to change the topic to May Charts @seagull   ??
Are we not breaking out of a falling wedge ???


Has PSY not just broken out ??  It looks to have popped out of the falling wedge and with the recent findings of the government grants allocated to PSY this could be why ???? or more Juicy news coming !!!

" A Falling Wedge looks like an elongated triangle that slopes downwards with the price spiralling lower between two converging trendlines. It is usually found in uptrends as a continuation pattern that slopes agains the prevailing trend. Sometimes, the falling wedge may materialize at the end of a prolonged downtrend where it can act as a reversal pattern. Volume decreases during the formation of the wedge and should expand on the breakout."​

**  Profit Target - can be measured by adding the width at the top of the pattern to the point of breakout.​