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+--- Thread: Triangle break-out (/showthread.php?tid=6213)
Triangle break-out - admin - 03-20-2014
After a nice run higher through the last half of 2013, Apple(Nasdaq:AAPL) has been consolidating in 2014 below the $575.14 high. A downside breakout occurred on March 14 when the price broke triangle support near $528. Further selling during the week of March 17 will confirm the signal. Place a stop loss above $535 (triangle) or $540 (recent swing high) with a target at $458. The target is attained by taking the height of the pattern and subtracting it from the breakout price. If price reverses course and breaks above $540, it's an upside breakout and the height of the pattern is added to the breakout price for a target of $605.