Prior triangle structure lead to a bullish breakout This current triangle is yet to breakout but I hope for another bullish breakout I consider these bullish Ascending Triangles or Bullish Rising Wedges . In my eyes they are much the same.
MGPI is setting up in a potentially powerful breakout pattern. MGP Ingredients is a distilled spirits company. Alcohol stocks are often seen as defensive which would make sense why we are seeing money flow into these names right now. But the group as a whole saw a huge advance in 2020 during COVID lockdowns, so do not underestimate their power to perform. The...
MGPI is printing a bullish candlestick over candlestick price bar on above average volume with my momentum/trending oscillators confirming the price move. I am adding to my long position in MGPI on Monday using a limit (GTC-BUY-LMT) order @ 75.06. I will have two trailing sell stops (GTC-SELL-STP) @ 71.74 and 68.99 to protect my initial invested capital in case...