ive heard a few technical analysts on tv mention that a consolidation phase usually lasts AS LONG as the previous trend....in our case it was down from late jan mid march low...so we should be in consolidation for roughly the same amount of time b4 breaking out??? Of course u need to decipher how long a particulr trend lasts....diff ppl see diff trends within trends etc...
i wouldve liked to see an inside day that had a higher low...we pretty much were only just off the low from yday
Still my opinion is that if theres no major dramas in the market, this stock should breakout of the 8 dollar mark and head towards 8.70ish
These triangles cAN take some time to build tho till they finally break .....theres still time for it to slowly build....thats why traders prefer to wait till 8bucks is broken
Reminds me of OSH = = check out the triangle buildup fromjune till early sept last year! It took its time, but when it broke look what hppned and for how long!
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