PENN - Inverse H&S formation Long from $15.50 to $17.27
Updated
PENN has broken out of a previous downward channel & now seems forming a inverse Head & Shoulder formation.
It also looking like a ascending triangle breakout with significant increase in moneyflow. We think it will test its next resistance around $17.30
* Trade Criteria *
Date First Found- March 15, 2017
Pattern/Why- Inverse H&S
Entry Target Criteria- Break of $15.50
Exit Target Criteria- $17.27
Stop Loss Criteria- $14.74
Please check back for Trade updates. (Note: Trade update is little delayed here.)
It also looking like a ascending triangle breakout with significant increase in moneyflow. We think it will test its next resistance around $17.30
* Trade Criteria *
Date First Found- March 15, 2017
Pattern/Why- Inverse H&S
Entry Target Criteria- Break of $15.50
Exit Target Criteria- $17.27
Stop Loss Criteria- $14.74
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
March 17th- Hit entry, updating our stop loss criteria to $15.03Note
March 23rd- awesome move higher on huge volume closing at the top of its range. Missed our target by 6 cents. We would consider taking some profits in this range.Note
March 24th - Wow! Another brilliant upward move hitting our target price. Wonderful trade.Trade closed: target reached
March 24th - Wow! Another brilliant upward move hitting our target price. Wonderful trade.
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