Silver as an investment

Measured move suggest upside power to come

One of our favorite patterns during a bull market is the ascending triangle pattern, especially a multi-year ascending triangle. On October the 12th the Power of the Pattern shared the chart below, asking what would you do with this opportunity. See original post HERE

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Premium and Sector Members bought into this pattern at the time, as the pattern two-thirds of the time, results in a beak out to the upside. Below looks at an update to this bullish ascending triangle pattern update to Hawaiian Electric (HE) .

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Since the original opportunity post on 10/12, Hawaiian Electric is up 10%, out pacing the S&P by nearly 8% in 7-weeks.

The chart above adds a measure move calculation to the pattern, reflecting that the bullish ascending triangle suggests in the long term, HE has more room to run to the upside, where it could reach the target at (2).

Members continue to bring stops up on this position as it powers higher.

 

Why you see chart pattern analysis with brief commentary:   

There is a ton of news and opinions about markets and stocks that make the decision-making process more difficult than it needs to be.    

I believe the Power of the chart Pattern provides all you need to see what is taking place in an asset and determine the action to take.  

This approach has worked well for me and our clients and I encourage you to test it for yourself. 

 

Send an email if you would like to see sample research and take me up on a trial of our Premium or Weekly Research where I provide actionable alerts on breakouts and reversals in broad market indices, sectors, commodities, the miners and select individual stocks 

 

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