So here's some interesting stats on where a wedge breakout might...

So here's some interesting stats on where a wedge breakout might go according to standard TA.. Actually on Thursday and Friday price broke through a tight cluster of a few key areas and levels including the 50 day EMA at $1.195 , the last pivot high at $1.305 and even closed a smidgen above the longer term downward trend line. However it's the wedge that has formed over the last few months and the trading that it represents- the supply and demand dynamic- that is most interesting.

These sorts of Wedges are also called Symmetrical Triangles and sometimes "coils", and you can learn more about them here if you're interested ( http://thepatternsite.com/st.html or https://www.investopedia.com/terms/s/symmetricaltriangle.asp ).. Here's some tips from Bulkowski's Pattern Site - the go to place for chart patterns:



Using the standard measure rule for successful wedge breakout the target is $1.79.. The average rise for an upward breakout is 34%, which is $1.715.. 58% of all wedge breakouts meet the target. That's 58% of all types of wedge breakouts including mediocre ones, strong ones. long ones, short ones. But this is not a mediocre wedge- this is a GREAT wedge! High volume breakouts do better: check. Breakouts in the lower third of the yearly low do better: double check. Breakouts at the start of trends do better: triple check.

But is there a chance of a pullback? Yep, apparently 62% of wedge breakouts experience a pullback. And this can be back to about the breakout level and sometimes to the level of the apex of the wedge, which would be $1.195.

$1.79 heh? A perfectly reasonable start I reckon. Then for the real action to start