IBM rising wedge

IBM has been forming ascending wedge pattern. We expect the price to brake down.
The short position can be taken once the price breaks down of the rising wedge patter. Estimated target is 134.17 but we should wait for the break down to measure the exact target and setting stop loss.

Another way to trade this pattern is to wait for a breakdown and enter short once the price retest the resistance (current upsloping support) and gets rejected to the downside.

Good luck

ความคิดเห็น:

the price is respecting the support