lauralea

Symmetrical Triangle

lauralea Updated   
NASDAQ:SWAV   Shockwave Medical, Inc.
Triangles are neutral patterns until broken.
Price has been struggling at the descending trendline of the triangle for a few days now. I am watching this one closely.
A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope.

A spinning top at a level of support or a level of resistance can mean a change in trend even if just temporary.
This is also ABC Bullish and C is at the spinning top. Strong support noted at C.

Price is above the .236 of the trend up.

Very small red volume bar compared to move up so far today. Volatile stock and can be a good reason to watch how a security moves before longing or shorting it.

OBV is high.

No recommendation.

Don't be afraid of not knowing. You will eventually find out (o:
Comment:
I am short SWAV. If this company beats earnings, I will add to my short.
EPS (FWD)
2.73
PE (FWD)
93.05
Div Rate (TTM)
0
Short Interest
4.58%
Market Cap
$9.12B
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