Chart Pattern : “Bullish Price Channel”
Main Trend Line: At 1 April 2009, 1 January 2016, reaction lows formed the beginning of the main .
Channel Line: Once the main was in place, the channel line beginning from the 1 January 2008 high was drawn.
A visual assessment reveals that these look parallel. More precise analysts may want to test the slope of each line, but a visual inspection is usually enough to ensure the “essence” of the pattern.
Bullish Price Channel: Subsequent touches along the main offered good buying opportunities in mid- 1 March 2016.
The stock did not reach channel line resistance until 1 Dec 2014 (red arrow) and this marked a significant reaction high.
If channel line resistance break with an acceleration above marked (blue arrow). Then Some analysts might consider the stock overextended after this move
*Technical: Price Channel Target @ 342 is a typing mistake.*
Please Read Price Channel Target @ 415
Today close near 2.90% Up :-)