IBB formed a rising wedge. Both lines are uptrend. The angle of ascent is steeper on the support line. The pattern form highs higher than previous and each low is successively higher as well. After a few attempts, the prices finally break through support.
To confirm the breakout, the price should close below the support line, if so, make a short. The profit target is the distance away as the back of the triangle.
To confirm the breakout, the price should close below the support line, if so, make a short. The profit target is the distance away as the back of the triangle.