Weak pattern here but just noting the development of an ascending triangle after a significant downtrend. Given the context this pattern could be considered a (bearish) continuation pattern. If it turns out to be bullish then there's some resistance not far above.
Looking like two weak patterns here:
1- Symmetrical triangle with
2- A sloppy ascending triangle as a sub pattern
In the short term it seems this may jump up above the resistance of the ascending triangle and push to the top of the symmetrical triangle.
Looking like we are touching the bottom of a channel right now.
Interesting points:
- Resistance in ~$80s-$90s with top of channel and previous highs
- Weak support around ~$68
$SPX in an ascending triangle. Both weekly and daily time frames show a break above resistance. Looking for a tag back down and then if the trend continues it could be a good move up.
This chart seems interesting. There appears to be a short(er) term ascending triangle inside of a longer term ascending triangle. If one day we see a break above the short triangle's resistance, I'd expect that breakout to meet resistance right around the longer triangle's resistance. The channel between ~$115 - ~$121 looks interesting as well.
- Days ago Intuit has a new CEO and weathered a significant org change without the stock taking a hit
- Resistance ~$217
- Break above resistance could push the stock into new highs
