Pennant pattern breakout Long

Dec 2, 2016

Trade able Pennant pattern gave breakout with higher volume yesterday. It offers a good opportunity for short term gain. The pattern is relative short pattern so the target can be reached in next week. Risk to reward ratio is quite reasonable.

Dec 6, 2016

Trade active

Moving as expected continuing the trade with trailing stop loss.

Dec 9, 2016

Trade closed: target reached

Stock moved exactly as the pattern should behave. It seems still there is a energy left but I am closing the trade on reaching the target price and happy with the profit.