Inside this analysis you can find the companies that showed the Trendline Breakout Chart Patterns appeared today.
POSITIVE TrendLine BREAKOUT
Trendlines are lines that identify the presence of a trend by combining a series of highs and lows.
A trendline that identifies a negative trend will combine a series of decreasing highs, therefore when the price breakout the trendline provides a potential signal of inversion of the current trend (going from negative to positive).
How do I know if it’s a false breakout?
The breakout is defined as “false” when the positive trend that supported the price growth reverses the direction (going from positive to negative). To understand when this event occurs, there is a red half-line in the chart that indicates the level below which the positive trend can be considered concluded.
A few negative days are not enough to call it a “false” breakout because often the cause is natural temporary volatility (given by the retest of the signal level or profit taking or general market crash).
This analysis is for informational purposes only and does not constitute investment advice.
WEC Energy Group Inc (WEC)
Abbott Laboratories (ABT)
Cerner Corp (CERN)
Mondelez Intl Inc (MDLZ)
American Water Works Co (AWK)
Corteva Inc (CTVA)
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