Triangles in Osim and Pac Andes

Hello all,

I have two triangles today – Osim and Pac Andes. Osim’s triangle does not have ideal volume behaviour but price action is good enough to qualify it an ascending triangle. We have a downward breakout with no volume either. So those who like volume as confirmation will not see this as an ascending triangle with a downward breakout. Price retraced up to $1.22 from a post-breakout low of $1.105. Any failure at the 200-day MA will entice me totrade Osim down to below $1.00.

Pac Andes’s triangle has good volume behaviour, but it looks a little immature. If you look at the triangle I drew below, price shot up with some room to spare before the apex of the triangle. On some occasions, price will fall back down before resuming upward trajectory.

Overall, these two triangles are not ideal, but it will be good to put them in observation.

 

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

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