Consolidation pattern looks to be preparing for a breakout to the $31 range, which would put it near its ATH of $32 that it hit 2 months ago. Will be interesting to see if this breakout occurs, does it become a double top at $32 or does it slice on through and continue up.
Not to mention that a Pennant Pattern (if it actually is one) as a very low probability rate of 54.87%. Almost like tossing a coin! Gabling... at best.
ImportantImports
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@rich7440, even with 50/50 odds, you can make money if you stop out your losses quickly and let your winners run. Trading chart patterns successfully is more about risk / position management than win ratio, believe it or not.
rich7440
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@ImportantImports, I can agree with the latter reasoning - that position management is key. I have been shorting the crap out of APHA right now with a very large position - for instance.