$SHO daily chart bullish breakout #stocks #trading #charts
$SHO has been trading all year inside a descending triangle that it breakout from on the 9th of SEP
After a small run up it hit a local high of 14.05 and since then it has slowly retraced inside a parallel channel towards the retest of the descending triangle
It has now completed the retracement and Friday it has broken the downward parallel channel on decent volume
Short term target (T1) is the 14.05 high and the long term target (T2) is the measured move from the descending triangle breakout that stands around 16.08
After a small run up it hit a local high of 14.05 and since then it has slowly retraced inside a parallel channel towards the retest of the descending triangle
It has now completed the retracement and Friday it has broken the downward parallel channel on decent volume
Short term target (T1) is the 14.05 high and the long term target (T2) is the measured move from the descending triangle breakout that stands around 16.08
Trade active:
T1 reached, congrats longs!
Trade closed: stop reached:
Stop in profit after the break of T1
TA
TA