As of 05/15/2024
Indus: 39,908 +349.89 +0.9%
Trans: 15,582 +18.64 +0.1%
Utils: 950 +9.15 +1.0%
Nasdaq: 16,742 +231.21 +1.4%
S&P 500: 5,308 +61.47 +1.2%
|
YTD
+5.9%
-2.0%
+7.7%
+11.5%
+11.3%
|
39,950 or 38,500 by 06/01/2024
16,050 or 15,300 by 06/01/2024
960 or 900 by 06/01/2024
17,250 or 15,850 by 06/01/2024
5,500 or 5,100 by 06/01/2024
|
As of 05/15/2024
Indus: 39,908 +349.89 +0.9%
Trans: 15,582 +18.64 +0.1%
Utils: 950 +9.15 +1.0%
Nasdaq: 16,742 +231.21 +1.4%
S&P 500: 5,308 +61.47 +1.2%
|
YTD
+5.9%
-2.0%
+7.7%
+11.5%
+11.3%
| |
39,950 or 38,500 by 06/01/2024
16,050 or 15,300 by 06/01/2024
960 or 900 by 06/01/2024
17,250 or 15,850 by 06/01/2024
5,500 or 5,100 by 06/01/2024
| ||
Updated 3/6/2019.
A symmetrical triangle is a common chart pattern but it's not easy to trade. The breakout is difficult to spot because it depends on price crossing a diagonal trendline.
After a breakout occurs, the stock may wobble up and down as it decides on a trend direction. According to research for my Chart Patterns: After the Buy book, the symmetrical triangle busts more often than ascending or descending triangles, for both breakout directions.
What does that mean? Price often reverses direction after the breakout to start a new trend in the direction opposite the breakout.
Below is a six-slide quiz to test your ability to identify symmetrical triangles and trade them. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.
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My Stock Market Books
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