MPL very nice setup IMHO. The weekly shows a (currently) 82-week...

MPL very nice setup IMHO. The weekly shows a (currently) 82-week Rectangle with a partial
decline, nearing the upper boundary. I was intending to wait for a break.
Today I noticed the Symmetrical Triangle on the daily chart with a break-out yesterday on
excellent volume. I have picked up some today on a shot at an early entry for the larger break.
The Symmetrical Triangle contains what can also be viewed as a small inverse H&S.
I generally am sceptical of Patterns with non-horizontal boundaries. However, having broken
above the last swing high in the pattern together with the small H&S I give this more substance.
The context of the larger weekly pattern also adds weight IMHO and the ultimate risk-reward is
attractive enough for me for a shot at a little earlier entry. My stop is at 2.87.
The measured Target for the Symmetrical Triangle is circa 3.19 (not far off the Credit Suisse
price target 3.25, which does not mean much to me personally). That would take it to a
break of the Rectangle and if it happens on good volume I will add a part position.
If I am stopped out, here I will wait for the completion of the pattern...
GLTA

Note: I specifically did not mention a larger inverse H&S with a down-slanting Neckline that is visible
if you continue the upper line of the Symmetrical Triangle. It is Technically valid but I prefer the simpler
patterns here...