EWOB- One more for the road before i go on a H/C break.Like you...

EWOB- One more for the road before i go on a H/C break.
Like you said 'assuming its a Flagpole??

To give you an example: the chart pattern is certainly not an ascending triangle as the upper trendline needs to be horizontal and this upper trendline in pointing down and adversley the lower line is pointing up and we can write off a descending triangle as the lower line needs to be horizontal and the one on EWOB's chart is facing or pointing upward making it more like a "Symetrical Triange" formation

Therefore I would suggest we more likely have a 'Symetrical Triangle that has formed.

With a Symetrical Triangle there is indecision about direction and this pattern is more a period of consolidation rather than a continuation pattern. Why? because this pattern is more often than not , a news-driven occurence and usually forms while the market is waiting for news or statement from company.
Neither the bulls or bears can or really want to influence price direction and why we have had swings in price from 9.5 to 8.7c on this run. Here the thing .

As the symetrical triange gets towards or close to the end of its formation it can breakout either way up or down and has 50% chance either way- any delays in news will cause more chance of breaking downward temporarily therefore if the news we are expecting is delayed for any reason (now we know the company have stated before end of this quarter which could mean September 30th at latest) in the meantime the shareprice stalls. Adversley if news comes in a few weeks or end of August we will see the opposite. Failing that it will drift or go lower - all based on Anticipation

Based on EWOBS chart it looks like the symetrical triangle is 75%-80% complete.

In about a week and a half it should have either broken out of this formation (up or down)and in the meantime there has and may continue to be indecision as this is purely a news driven occurence.

And there you have it, from my days as a full time trader which i no longer do or have time to spend doing

Traders can therefore have a play if they dare

Food for thought
Cheers

BLUETOOTH