Triangle in GMED

9 thg 11, 2020

Screening through many stocks this morning this was the chart the stuck out to me. A clear triangle. I will be quite surprised if it doesn't play out because of how textbook it looks. Price appears to have broken the triangle upper boundary. A close above this boundary will support continued strength to the upside. Based on the size of the triangle the simple target areas are within the yellow box.

10 thg 11, 2020

Ghi chú

Adding detail to the above count. I'm interpreting the triangle to be a Y wave of a larger WXY combination correction.

10 thg 11, 2020

Ghi chú

An alternate interpretation of the WXY count.

11 thg 11, 2020

Ghi chú

Bigger picture counting the triangle as all of a wave 4.

27 thg 1, 2021

Giao dịch được đóng thủ công

The thrust out of this triangle is weak. Price is turning over. Possibly we're in a wave 2 sub-wave of the larger move out of the triangle. My conviction is no longer strong on this trade. Closing to lock in profit while ahead.