Wednesday, May 15, 2019 11:04:01 AM
Yes, price just keeps walking up along the daily 50day.
A stable pattern so far.
Something to keep in mind.
"As with the reversal pattern, add the height of the rounded bottom to the breakout point for an estimated upside target. This aids in assessing the risk/reward of the trade. Depending on how strong the trend is, the price could well exceed the estimated target. In weak trends, or when the trend is near its end , the price may not meet the estimated profit objective. Typically, the stronger the uptrend heading into the rounded bottom the larger the follow-through to the upside after the pattern."
rounded bottom continuation pattern with profit target and stop loss
On AVXL daily I am figuring the breakout line as the top of the candle body (3.55) not the top of the pole.
2.70 to 3.55 is .85 and thus gives a possible price target of 4.40 from the breakout level.
We shall see. Note: there is resistance at 3.55, 3.80 daily and 4.06, 4.35 when adding the weekly.
A stable pattern so far.
Something to keep in mind.
"As with the reversal pattern, add the height of the rounded bottom to the breakout point for an estimated upside target. This aids in assessing the risk/reward of the trade. Depending on how strong the trend is, the price could well exceed the estimated target. In weak trends, or when the trend is near its end , the price may not meet the estimated profit objective. Typically, the stronger the uptrend heading into the rounded bottom the larger the follow-through to the upside after the pattern."
rounded bottom continuation pattern with profit target and stop loss
On AVXL daily I am figuring the breakout line as the top of the candle body (3.55) not the top of the pole.
2.70 to 3.55 is .85 and thus gives a possible price target of 4.40 from the breakout level.
We shall see. Note: there is resistance at 3.55, 3.80 daily and 4.06, 4.35 when adding the weekly.
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