chart

BLR finally got it's 'Bullish symmetrical triangle' breakout, (72% into the triangle).

"The best breakouts occur ½ to ¾ of the way through the pattern. A stock seems to gain energy as it is compressed into the triangle, but that energy dissipates beyond the ¾ point. Volume typically diminishes as the pattern develops because traders become more and more unsure as to the stock's future direction. Then, seemingly without warning, the stock explodes out of the pattern.

Bullish symmetrical triangles appear in uptrends and typically resolve themselves to the upside. Breakouts to the upside must be accompanied by a significant increase in volume to confirm the breakout. Besides volume, the astute trader ought to look for a close above the most recent high, (24.5).This price represents the previous area of selling pressure and an area where stockholders may be looking to “get out even.”

The expected price movement upon breakout is approximately equal to the widest part of the pattern."

27 - 16 = 11
22.5 + 11 = 33.5 Target
http://www.leavittbrothers.com/education/chart_patterns/symmetrical_triangle_bullish.cfm

So after 7 days of a new uptrend BLR have a pattern breakout, a new all time high & a 49% gain. Lots of support levels for the SP now after the consolidation, with 27 at the top of the list.

DYOR
Regards
Chalea