rectangular top

BOW has formed a Rectangular Top pattern over the last 3 months with the top horizontal line at $1.47 and the bottom horizontal line at $1.25. What this patterns tells us is that generally sellers won't quite below $1.25 and buyers won't pay more that $1.47. The pattern is accompanied with declining volume which is expected. At the moment looks like the bottom horizontal is going to be tested again. Trading stategy is to see if it holds at $1.27 and if it does when the uptrend commences buy in. Alternativly you can wait for it to break out past $1.47. The pattern average pattern length is 3 months so would expect a resolution either way of the next month.