PYPL about to continue uptrend ? + Still under consolidation + Price move within symmetrical triangle. Formed ABCD. Where's E going to be ? + Symmetircal Triangle is 1 of popular continuation pattern. + Price moved above lower bollinger band. - Force Index still negative but improve. Expect +ve FI soon.
o Suggest to partial buy if price able to break above triangle and stay above 76.11 (R1). o Further Buy if price break R2 (Record High) R2. + Good Risk/Reward Ratio > 2
Komen
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Spot on!! Price move as per TA. Right now Stochastic is at oversold region for few days... Good to take some profit and leave some until sign of reversal candle appears.. Right now still bullish
Can I say that the consolidation is going to be over. However there is HH & HL formation which indicates the stock might go on sideways till a good news pop up.
kgiap123
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@Balachandar, Normally, need 3 points - Resistance A,C,F and Support B,D,E
Considered breakout as long as it breaks the triangle/pennant. Time duration can be 3 weeks to 3 months.. If 3 weeks, it is usually considered a pennant.
kgiap123
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@Balachandar, according to John Murphy, breakout point should occurs around 3/4 of the way through the pattern's development (3/4 width of the triangle)