Panjang
Symmetrical Triangle Bullish Breakout - AKRX

There appears to be a bullish breakout from a 3 month symmetrical triangle on AKRX. This looks like a textbook breakout (Lower highs & higher lows converging.) A symmetrical triangle alone is a neutral consolidation pattern - only until it breaks one of the trendlines does it signal direction. The price has not only broken the upper trendline, but has spent two days outside of the triangle. To me, this is definitely a bullish signal. Unfortunately, there has not really been a substantial pickup in volume, which usually accompanies the breakout. However, both the 13 & 21 EMA crossed the 50 day EMA today, indicating an uptrend. With a projected risk-reward ratio of 3, this looks like a promising trade.
Summary
Position: Long. Why?
- Bullish symmetrical triangle breakout combined with a 13, 21, & 50 EMA cross.
Risk Management:
- Stop-loss: $37.5 (7%)
- Profit-taking: $51 (25%) Why?
-- Following triangle measuring technique, a gain of 11 points is projected.
- Risk-reward ratio: 3.667
Summary
Position: Long. Why?
- Bullish symmetrical triangle breakout combined with a 13, 21, & 50 EMA cross.
Risk Management:
- Stop-loss: $37.5 (7%)
- Profit-taking: $51 (25%) Why?
-- Following triangle measuring technique, a gain of 11 points is projected.
- Risk-reward ratio: 3.667
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.