🔍 Overview:
On the 30-minute chart of EXEL (Exelixis, Inc.), we're witnessing a symmetrical triangle breakout forming near a key confluence of support/resistance. This setup could lead to a potential bullish move if confirmed.
📌 Key Technical Highlights:
Pattern: Symmetrical triangle
Breakout Point: Near $34.85 (marked by yellow circle)
Resistance Levels:
Minor: $36.07 (red)
Major: $37.21 (green)
Support Zone: $34.10 (white line)
Volume: Moderate, needs confirmation with breakout candle
📈 Trade Plan (Long Bias)
✅ Entry Zone: $34.80 – $35.00 (post breakout confirmation)
❌ Stop Loss (SL): Below $34.10 (trendline & horizontal support)
🎯 Profit Targets:
TP1: $36.07 (previous resistance)
TP2: $37.21 (major resistance zone from March highs)
⚙️ Risk-Reward Considerations:
Symmetrical triangle suggests price compression and upcoming breakout
Risk:Reward ratio looks favorable if trade follows upward momentum
Confirmation needed with volume breakout + strong candle close above triangle
📚 Educational Takeaway:
This is a textbook case of price consolidation followed by breakout anticipation. Symmetrical triangles often act as continuation patterns, and when paired with horizontal support and volume analysis, they offer high-probability trade setups.
Traders should always wait for confirmation—breakouts without volume can lead to fakeouts. Set tight stops and manage your trade dynamically as price action unfolds.
✍️ Final Thoughts:
If you're actively trading stocks like EXEL, using clean patterns like this combined with defined entry/exit rules can dramatically improve consistency. Keep watching volume and price action for the final signal.
On the 30-minute chart of EXEL (Exelixis, Inc.), we're witnessing a symmetrical triangle breakout forming near a key confluence of support/resistance. This setup could lead to a potential bullish move if confirmed.
📌 Key Technical Highlights:
Pattern: Symmetrical triangle
Breakout Point: Near $34.85 (marked by yellow circle)
Resistance Levels:
Minor: $36.07 (red)
Major: $37.21 (green)
Support Zone: $34.10 (white line)
Volume: Moderate, needs confirmation with breakout candle
📈 Trade Plan (Long Bias)
✅ Entry Zone: $34.80 – $35.00 (post breakout confirmation)
❌ Stop Loss (SL): Below $34.10 (trendline & horizontal support)
🎯 Profit Targets:
TP1: $36.07 (previous resistance)
TP2: $37.21 (major resistance zone from March highs)
⚙️ Risk-Reward Considerations:
Symmetrical triangle suggests price compression and upcoming breakout
Risk:Reward ratio looks favorable if trade follows upward momentum
Confirmation needed with volume breakout + strong candle close above triangle
📚 Educational Takeaway:
This is a textbook case of price consolidation followed by breakout anticipation. Symmetrical triangles often act as continuation patterns, and when paired with horizontal support and volume analysis, they offer high-probability trade setups.
Traders should always wait for confirmation—breakouts without volume can lead to fakeouts. Set tight stops and manage your trade dynamically as price action unfolds.
✍️ Final Thoughts:
If you're actively trading stocks like EXEL, using clean patterns like this combined with defined entry/exit rules can dramatically improve consistency. Keep watching volume and price action for the final signal.
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.