AXE 5.26% 36.0¢ archer materials limited

AXE breaking out from a 34 week Symmetrical Triangle (after a...

  1. YLJ
    819 Posts.
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    AXE breaking out from a 34 week Symmetrical Triangle (after a false move a few days ago).
    Coincides with a 61-day Rectangle breakout. Needs to clear the midpoint of the Triangle (0.67)
    for confirmation, though I would not expect that today. I am long with as stop @ 0.505 and a
    measured target of circa 0.9
    Not generally a fan of Symmetrical Triangles but with the Rectangle overlap I was willing to give
    this one a shot.
    My sentiment hold, as it has popped quite hard since my entry and risk/reward metrics have
    changed somewhat. Still pretty decent IMHO, but I prefer to keep my sentiment in line with
    what I actually do myself. Has run hard today (note the gap as well) and a slight pullback could
    possibly provide a better entry...

    GLTA
    Last edited by YLJ: 20/01/21
 
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