SCHWSCHW has recently delivered a Triangle Pattern breakout within the context of a long-term parallel channel that has been forming over several years. This convergence of patterns suggests a potential shift in momentum and a likely resumption of the broader trend.
The breakout from the triangle indicates emerging bullish sentiment, but a decisive breakout above the 2-year high is still pending. This level is a critical resistance, and once breached, it could confirm the breakout’s strength and initiate a more sustainable upward move.
Following such a breakout, a retest of the breakout zone would be a healthy technical development and could provide an ideal entry point for long-term investors.
Looking ahead, if the breakout holds and the stock maintains its trajectory, SCHW may attempt to reach the upper boundary of the outer parallel channel over the next 2–3 years, offering a favorable risk-reward setup for position traders and long-term investors.
Summary:
Pattern Identified: Triangle breakout within a long-term parallel channel
Key Resistance: 2-year high (yet to be broken)
Potential Entry: On breakout and subsequent retest
Medium/Long-Term Target: Upper edge of the outer parallel channel
Outlook: Bullish with long-term growth potential over 2–3 years
