After I published the formed wedge pattern of the ALB 2-3 weeks ago. (
)
Now the price seems to be going as forecasted and an opportunity for a short term long position has arised again.
The price has entered a consolidation period in the past week and it has formed a symmerical triangle (shaded in red).
By Bulkowski's conditions I have outlined the short term target of the traiangle (c) and the potetntial stop loss that I would place. All this in the of an upward breakout, which is the more probable situation here.
I still continue to be bullish on this security for the long term as well.
Thanks.
Now the price seems to be going as forecasted and an opportunity for a short term long position has arised again.
The price has entered a consolidation period in the past week and it has formed a symmerical triangle (shaded in red).
By Bulkowski's conditions I have outlined the short term target of the traiangle (c) and the potetntial stop loss that I would place. All this in the of an upward breakout, which is the more probable situation here.
I still continue to be bullish on this security for the long term as well.
Thanks.