1. Bullish pennant developed from earnings gap indicating a potential rebound back previous prices
-Gap provides mast
2. Potential double bottom is in formation also indicating a reversal
-20% retrace between bottoms
-<2% between peaks
Market order placed to go long with REV anticipating a continuation symmetrical triangle formation with a nice risk / reward.
If the lower boundary of triangle is broken decisively at a day close the analysis will be falsified.
1. Taking a position here before the next rally with anticipation of a breakout.
2. If the next rally bounces off upper resistance of...