WRB daily - is in a nice and big symmetrical triangle after leg up which is very bullish. Volume is lower which indicates there is no seller at the moment and the price consolidates at that level which is also bullish.
RSI is neutral.
MACD histogram ticks start green while the MACD line is trying to move above the signal line which is bullish.
Overall: creating the symmetrical triangle after leg up is a bullish pattern especially if prices consolidate on smaller volume. Break above and daily close or strong move on high volume above blue upper dotted line would trigger a long position with stop loss below the green line or 20 days MA. WRB is a bullish fundamental stock therefore would be traded only on the long side. Break down below symmetrical triangle would NOT trigger short trade due to the fundament.
RSI is neutral.
MACD histogram ticks start green while the MACD line is trying to move above the signal line which is bullish.
Overall: creating the symmetrical triangle after leg up is a bullish pattern especially if prices consolidate on smaller volume. Break above and daily close or strong move on high volume above blue upper dotted line would trigger a long position with stop loss below the green line or 20 days MA. WRB is a bullish fundamental stock therefore would be traded only on the long side. Break down below symmetrical triangle would NOT trigger short trade due to the fundament.
Consistency is the key of success....
