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Possible T2 77.6
PHM broke from an A Triangle at 48.35. After a break up from an A triangle, the top trendline can serve as support.
The handle low as well as mid cup are also support levels
There is also a small gap up at the handle low that makes the handle low a strong support level for PHM
No rising wedges noted
NV is high and short is low
PHM has surpassed the prior high from many years ago (2004) which is a hurdle for sure
Not a whole lot of R overhead
Not a recommendation
Happy Trading
Possible T2 77.6
PHM broke from an A Triangle at 48.35. After a break up from an A triangle, the top trendline can serve as support.
The handle low as well as mid cup are also support levels
There is also a small gap up at the handle low that makes the handle low a strong support level for PHM
No rising wedges noted
NV is high and short is low
PHM has surpassed the prior high from many years ago (2004) which is a hurdle for sure
Not a whole lot of R overhead
Not a recommendation
Happy Trading
Kommentar:
Correction. A rising wedge has developed in this chart. The bottom trendline of RW is at 46