YEXT - End of the rally? Or is another 50% coming?

Big question, and we are about to know the answer... YEXT is currently at big BLUE falling channel's resistance, which cautions AGAINST taking long exposure. It looks to be breaking out of the BLACK ascending triangle, whose most conservative target points slightly above 20 (which is a horizontal resistance zone). From today's price to 20 bucks is just a 10% move, BUT it would represent a breakout of the two-year falling channel, which would make it a big deal. YEXT has already proven that it can double in few months (see the beautiful small BLUE rising channel that formed in 1H 2018), so if it switched trend from downward to upward, it could easily run up to all-time highs, for a nice 50% gain. One could also try to read an "ugly" inverse H&S bottom in the price action of the last 6 to 8 months, which has already broken out on the WEEKLY chart with a target of 24. Anyway, NONE of this bullish blabber matters one bit until YEXT breaks out of BLUE falling channel... A selloff starting from underside falling channel resistence could be nasty!!!

Full disclosure: long YEXT at 1% of total assets. I am NOT taking profits here because 1) I believe long term prospects for YEXT are fantastic; 2) I have increased broad portfolio hedging from 3.5% to 6% just yesterday via S&P shorts, so I'm much better able to hold on to my favourite longs.