What are Ascending and Descending Tops and Triangles? It's almost like a stock break out to the good is being squeeeezed out the end. Like the stock can't help but go up at the end of the triangle.
Ascending tops and triangles is a trading pattern used by chartist style traders. Those aren't woke working class traders. They're just traders who focus on the graphic representation of stock performance. The same holds true for descending tops and triangles. Basically, take everything we said here, and invert it.
Note the pattern of ups and downs…but as time progresses, the blue line at the bottom acts as if it's a lower limit where the stock can't bounce through that virtual floor…and then, one day, like a zit that's bursting at the seams, the stock pops, and creates a new set of ascending tops and triangles. Hopefully it doesn't leave a pockmark on your portfolio.
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Finance: What is Breakaway Gap?7 Views
Finance a la shmoop.. what is breakaway gap? well Letterman has one yeah that but [David Letterman's front teeth appear]
here we're talking about a trading pattern like on a stock chart like this
thing where the breakaway gap is a sudden change in trading pattern like
you're walking along just fine and easily recognized in comfy double bottom
pattern like this but then blam the company reports an awesome quarter in [Stock chart dramatically rises]
the stock zooms upward outside of the pattern it goes from here to here and
well now what like there's no pattern yet so what do we do well depending on
your lean prayer might help is the stock heading down now to normalize or up more
because now everyone thinks it's the next Google and wants to own it for the
long run so breakaways go up like this and
sometimes they go down like this but either way they break away from a [Arrow points to stock charts breakaway gap]
pattern and yeah, clearly this was not the next Google! oh well
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