$TAL Strong Consolidation Triangle | $4.33 / -$11.12 Risk
TAL looked a local maxima in Wednesday's trading but further fed what seems to be a strong consolidation triangle. At a larger view it already seems to be a confirmed head and shoulders with rapidly declining volume; suggesting any upwards momentum is only temporary. Paired with bad press, TAL isn't looking like a strong buy at the moment despite previous years earnings.
Boundaries
Risk / Reward
Boundaries
- If upside triangle break will progress to 59.70 before meeting further resistance
- If downside triangle break will decline to 44.24 before rebounding.
Risk / Reward
- If long, upside gain for $4.33 (8%) for potential loss of -11.12 (-20.1%) in long
- If short, inverse of above, gain of $11.12 and potential loss of $4.33
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