Long
CFX - Breakout Within Ascending Channel
Colfax Corporation has been trading within an ascending channel since early October. It briefly opened below the channel support line on December 3rd but found support along the 50-day EMA line to regain the channel.
An intermediary symmetrical triangle pattern was created from the November 1st top & we have just seen a bullish breakout of this symmetrical pattern. Potential price targets are noted on the chart.
An intermediary symmetrical triangle pattern was created from the November 1st top & we have just seen a bullish breakout of this symmetrical pattern. Potential price targets are noted on the chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.