【Thursday Special】Could You Find Triangle Chart Pattern?
Welcome to Thursday Special!
Whether you are a beginner or an experienced investor, everyone has their own opinions on the stock market trends. How do you make these judgments?
Let's start a series of learning patterns and apply them to individual stock trends.
Can you spot the “triangle” in this pic?
Could you guess which stock this is based on the following trend?
What Is a Triangle Chart Pattern?
The triangle chart pattern is named as such because it resembles a triangle. It is depicted by drawing trendlines along a converging price range, that connotes a pause in the prevailing trend. Technical analysts categorize triangles as continuation patterns of an existing trend or reversal. The essential characteristics of the double bottom pattern are as follows:
Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.
There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles.
Triangle
Ascending Triangle:
Bullish breakout pattern with a horizontal upper trendline (resistance) and a rising lower trendline (higher lows). Buyers eventually push the price above resistance with rising volume.
Descending Triangle:
Bearish breakdown pattern with a horizontal lower trendline (support) and a declining upper trendline. Price collapses through the lower support as a downtrend resumes.
Symmetrical Triangle:
Pattern with a falling upper trendline and a rising lower trendline. Breakout above the upper trendline leads to an uptrend, while breaking below the lower trendline results in a downtrend.
💭So, today's homework is to find a stock with a triangle chart pattern!
Please take a screenshot and highlight the triangle chart pattern.
For example: $Salesforce.com(CRM)$
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🌟🌟🌟I found a Descending Triangle in $AMC Entertainment(AMC)$
Its share price has been falling like a rock to the bottom of an ocean when a judge ruled that AMC can release 40 million shares. AMC shareholders are unhappy about the dilution of the shares.
Can AMC recover? Let's hope so. It hopes to rev up revenue with Taylor Swift's New Era Concert film slated for release in October and other block buster films in the pipeline.
@MillionaireTiger
When we delve into the intriguing triangle chart patterns, one stock immediately comes to mind. Scroll down to catch a glimpse of my image, and see if you can guess the stock, or read on for a riddle that reveals the answer:
I'm a car with a famous name,
Electric power is my game,
And my CEO's known for more than just fame.
What am I?
Got the answer? That's right, it's none other than Tesla. In my screenshot below, you'll notice the three potential triangle variations: ascending, descending, and symmetrical triangles. Now, here's the twist—contrary to common belief, these triangles aren't inherently bullish, bearish. Instead, they hold the power to spark significant trends when a breakout or breakdown occurs. As exemplified by Tesla, all three variations can lead to substantial uptrends.
So, the next time you spot these intriguing triangles on a chart, remember that they're like the electric energy of $Tesla Motors(TSLA)$
@MillionaireTiger
Do come and join the discussion guys. @koolgal @rL @b1uesky @icycrystal @Universe宇宙 @Aqa @GoodLife99
Is CRM valued that much higher because the street believes that the trench of CRM is so, so much stronger than NFLX that it can grow it's $208M earnings at a safer and gaster pace than NFLX?
出现了好几个三角形
Crm trades at high multiples because they have a lot of flexibility in cutting costs and boosting earnings, which they did last quarter, and their earnings quality is high
And the $5B earnings of USB is so boring and slow that it doesn't matter that it is multiples higher than CRM?
三角形類似於楔形和三角旗，如果有效，可以是延續模式，也可以是失敗時強有力的反轉模式。
隨着價格行爲形成持有模式，有三種潛在的三角形變化，即上升、下降和對稱三角形。
The company is an industry gaint, I have a feeling the activist investors might take interest soon, similar to crm which back fired my short position.
I've been trying my hand at the stock market as well, but so far I haven't had much success, so I'm not sure whether it's really possible. simply been losing.