Most chart patterns morph into other patterns when they fail their formations. Chart patterns show possibilities of price direction, but they should never be considered a tool for price prediction. Charts tell you the story of what the markets have been doing, but they can’t tell you where it’s heading. Charts are tools for trading management and can help you minimize losses and become a better trader.
On our watchlist additions of November 14th, 2021, the stock with ticker $UPWK presented an Ascending Triangle formation since February of 2021. You can access the publication of this addition at this link. This chart has now morphed into a Rectangle pattern.
On the daily timeframe, the price chart has formed a Rectangle pattern since February of 2021, finding strong resistance at the $60.50 price level, and finding support at the $39.35 price level. A daily close of $62.30 will confirm the breakout from the rectangle pattern with a possible price target of $88.00. A daily close of $38.15 will confirm the breakdown of the rectangle pattern with a possible price target of $31.05.
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$TG – Tredegar Corp. engages in the manufacture of polyethylene plastic films, polyester films, and aluminum extrusions.
Market Capitalization: 401.534M
Sector: Producer Manufacturing
On the daily timeframe, the price chart has been forming a Rectangle pattern since July of 2021, finding support at the $12.18 price level. The daily close of $11.89 on Nov. 17th 2021 confirmed the breakdown from the Rectangle pattern with a possible price target of $11.22.
The price target of $TG was reached on 11/19/2021
$TG bounced off the price target that was reached on 11/19/2021. The alert was sent two days before.
$DGB – DigiByte is a rapidly growing open-source blockchain created in late 2013 and released in early 2014. DigiByte has become one of the safest, fastest, longest, and most decentralized UTXO blockchains in existence.
On the daily timeframe, the price chart has been forming what could be interpreted as a Adam and Eve pattern since May of 2021, finding strong resistance at the $0.078 price level. A daily close of $0.08 will confirm the breakout from the Adam & Eve pattern with a possible price target of $0.1250.
$APO – Apollo Global Management, Inc. engages in the provision of alternative investment management services. It operates through Credit, Private Equity, and Real Assets segments.
Market Capitalization 25.176B
Ownership Summary: 83.61% Institutional Ownership
The price chart has formed an Ascending Triangle pattern since July2021, finding strong resistance at the $63.70 price level. The current price is above the 200 EMA. A daily close of $65.50 will confirm the breakout from the ascending triangle with a possible price target of $72.70.