POET: Ascending Triangle Forming – Prime Bullish Setup

We’re seeing a classic ascending triangle pattern taking shape, which is one of the most reliable bullish signals in technical analysis. The pattern features a series of higher lows, showing building buyer support and increasing momentum, while the highs remain flat around the $8.66 resistance level (aligned with the SMA). This compression typically leads to a breakout to the upside once volume picks up and we clear that overhead line – and with the recent price action circling in on it, I’m eyeing a potential move higher soon.

Zooming in on the details: The main chart highlights the triangle with the ascending support trendline connecting those higher lows, and the flat resistance creating the “ceiling.” Volume is holding steady at around 99K-230K, with a spike in the lower pane suggesting interest is brewing. RSI is neutral around 48-57, not overbought yet, leaving room for upside without immediate pullback risk. If we break above $8.66, next targets could be $9.50 or even $10 in the short term, based on the pattern’s measured move.

Fundamentally, POET is firing on all cylinders. They just closed a massive $75 million private investment round to fuel growth in AI connectivity solutions. In an industry that’s notoriously power-hungry (think data centers and AI hardware sucking down energy), POET’s unique photonics tech offers efficient optical interconnects that cut power consumption while boosting speed. This positions them perfectly for the AI boom, and the funding news has already injected fresh momentum – shares are up, but there’s plenty more room to run.