COMP 1D Ascending Triangle 23/08/2021
Updated
Potential ascending triangle visible on the 1D chart. Confirmation as per Bulkowski is 3 touches of one trendline, and 2 of the other - we are 1 touch away. Volume is also trending downwards, consistent with the pattern. Measured price target is ~28.7% (~$682). Average rise for this pattern is 43%. Breaks upwards 63% of the time.
Breakdown of lower trendline would likely lead to continuation drop until $380/$325.
Other technicals:
Breakdown of lower trendline would likely lead to continuation drop until $380/$325.
Other technicals:
- Bollinger bands are squeezing, indicating we may see a large move when this breaks out of either side.
- RSI has been bouncing off the median and is trending inside the bullish control zone.
- VPVR shows a large amount of positions being taken at this current price range.
- Higher lows being plotted so far by the lower trendline.
Note
Coming up to lower trendline, bad news if it doesn't bounce here
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