Long entry with a confirmed uptrend
NOC Has fallen from a bearish rising narrowing wedge
Rising wedges are caused by too much buying (irrational exuberance) without healthy pull backs. They are usually bearish in nature. They differ from triangles as both lines slope up. A rising wedge can be a very long term pattern but can be less. It must be 3 weeks or more in formation. It differs from a flag as it forms an apex where both trendlines converge
Possible T2: 391.7 to 415
Possible stop below 307.10
Long entry only with a clear uptrend in place
NOC is also in a long term ascending triangle with b/o at 354ish
NV is high/short is low
Prior and all time high is 385.01
Not a recommendation
NOC Has fallen from a bearish rising narrowing wedge
Rising wedges are caused by too much buying (irrational exuberance) without healthy pull backs. They are usually bearish in nature. They differ from triangles as both lines slope up. A rising wedge can be a very long term pattern but can be less. It must be 3 weeks or more in formation. It differs from a flag as it forms an apex where both trendlines converge
Possible T2: 391.7 to 415
Possible stop below 307.10
Long entry only with a clear uptrend in place
NOC is also in a long term ascending triangle with b/o at 354ish
NV is high/short is low
Prior and all time high is 385.01
Not a recommendation