GS broke up and out of a Rising Wedge. The RW is below price..
Rising Wedges are most often bearish so be safe. They are long term patterns and not valid unless bottom trendline is broken. Very few stocks that I have followed broke up and out of a rising wedge. CRM did at 208.28 (upper trendline of CRM's rising wedge) a while back when introduced to the Dow. Crm went on to rally upward for quite a while. If a security breaks up from a RW, it is usually not a long term break and will most often come back down to the wedge or through the bottom trendline.
This one may just keep going up forever (o: Only time will tell/The top of the bottom trendline of rising wedge is 238.75/top trendline is 251ish/From what I see, there are 2 RWs in that vicinity..
Mid cup is 190.65 Cup Low is 118.85 Cup low is 119.60
Good idea to do your research/Not a recommendation/Just an observation
Rising Wedges are most often bearish so be safe. They are long term patterns and not valid unless bottom trendline is broken. Very few stocks that I have followed broke up and out of a rising wedge. CRM did at 208.28 (upper trendline of CRM's rising wedge) a while back when introduced to the Dow. Crm went on to rally upward for quite a while. If a security breaks up from a RW, it is usually not a long term break and will most often come back down to the wedge or through the bottom trendline.
This one may just keep going up forever (o: Only time will tell/The top of the bottom trendline of rising wedge is 238.75/top trendline is 251ish/From what I see, there are 2 RWs in that vicinity..
Mid cup is 190.65 Cup Low is 118.85 Cup low is 119.60
Good idea to do your research/Not a recommendation/Just an observation