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AWC: Descending triangle approaching strong support levels

ALUMINA LIMITED (ASX:AWC)  
jumpy_swings Updated   
ASX:AWC   ALUMINA LIMITED
Triangle Support and Resistance Pivot Points Stocks Descending Triangle
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triangle supportandresistance pivotpoints stocks descendingtriangle
Noticed this stock on a recent screen. It shows a descending triangle nearing strong support ($2.12-$2.15) levels. Don't have a position on this and the company fundamentals look pretty good at the moment but a break below $2.12 would be very bearish from a technical perspective. Alternatively, if it bounces off the support level again it might be a good position to enter a long position for a short swing trade. Good luck
Comment:
Looks like a bounce off support once again. Will likely enter a long position with a modest sell limit and stop at just below support levels.
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