Waiting for it, Ascending TriangleAnother Ascending Triangle that I'm waiting for a breakout. I spoke about this in my Daily Comments of April 15th and I've set an alert to notify me when the price moves above $1.18 and at that point I'll look at the chart again and see of the volume is that of a break out. I'd want to see volume near or above one million shares traded by the end of the day on it.
These days I find that I let the stocks come to me instead of chasing them. I see a candle stick formation or chart pattern emerging and I set my alerts on it and wait. There now about 30 stocks in my watch list with alerts set and when the condition or price point is triggered, its just a matter of buying and letter the formation or pattern play itself out.
For Western Forest Products the calculated move on this Ascending Triangle is
.20, so the first target from a break of $1.18 would be $1.38 for gains of 16.9%. The stop should be placed just below the ascending trend line.
See charts here https://us1.campaign-archive2.com/?u=4d6d491aea8e01d93d8a1f390&id=11b23f657d#WEF
For other weekly picks see https://us1.campaign-archive2.com/?u=4d6d491aea8e01d93d8a1f390&id=11b23f657d
Daily Comments at https://www.ta-picks.com/Daily.html
Learn to trade on a technical level https://www.ta-picks.com/Courses.html
Cheers!