Monday, June 16, 2008 10:44:32 AM
Descending Triangle - Breakout Possible?
At the current price TIV is very close to breaking out to the upside of a descending triangle which is capped with the lower downtrend line shown in the chart below. That line is the current downtrend line which excludes some possible 'outliers' and today sits at around $6.60/share. TIV is above that now!
With continued signifcant buying pressure TIV could perhaps breakout to the upside of the descending triangle capped by the upper downtrend line , which today sits at around $7.25 share.
Breaking and holding above that point would , IMO , be extremely significant TA-wise in that it would end a downtrend which has been going on for over 3 years now.
JMO
jonesie
At the current price TIV is very close to breaking out to the upside of a descending triangle which is capped with the lower downtrend line shown in the chart below. That line is the current downtrend line which excludes some possible 'outliers' and today sits at around $6.60/share. TIV is above that now!
With continued signifcant buying pressure TIV could perhaps breakout to the upside of the descending triangle capped by the upper downtrend line , which today sits at around $7.25 share.
Breaking and holding above that point would , IMO , be extremely significant TA-wise in that it would end a downtrend which has been going on for over 3 years now.
JMO
jonesie
Yorkville / Cornell Tracking Board #board-9964
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