TA discussion, page-3053

Ironhorse,
There are a few considerations - rule of thumb is that traders would be setting their target at the breakout point plus the widest part of the preceding triangle or about 8-10 cents. That would be somewhere in the low 70's. However the unknown is how much supply is sitting above the gap (63.5 cents) in that prior downleg.

A lot depends upon the strength on any buying if a break comes. So far the buying such as we had for the last 2 announcements has really been about a few enthusiastic retailers piling in at the open which in both cases ran out of puff pretty quickly. We need an institution or two to join in or a really game changing announcement to pull the retailers in with some serious numbers.