Tuesday, April 13, 2010

Pattern Discussion

We first started posting the GOOG pattern on April 10, on chart.ly:

This was the chart:

And this is today:

One of our favorite patterns is the break of the symmetrical triangle. And what's the best action right before? Stock bases in the upper range right below the trend-line. This gives the added strength to the pattern of a stock jumping from a mini-base within the triangle pattern and the added safety of using the base as a stop if the break-out fails. Keep that detail in mind next time you are looking for a triangle break-out.