PM 87.73 bullish – 2.5-year triangle breakout points higher
PM broke out of 2.5-year triangle resistance (as shown on the weekly chart) to post new year-to-date highs. Bullish momentum suggests further upside towards 90.25 (November 10, 2015 weekly high) and then 91.63 (June 16, 2015 weekly high) near 76.4% of the 96.73/75.27 fall. Above there would open the...
After V-shape move off the bottom on February, stock formed double top at $91.62 and sold off from there with two gap downs (means strength of sellers). I will us gap pivot point as stop/ Until it stays below $87, I am bearish. Price is below key moving averages. You can manage this trade in different ways I use active trade management. Enter with tier1 in this...
