Technical Market Research and Investor Coaching

Delivering technical research of the financial markets
and offering professional guidance for those who wish to improve their trading performance.

Chart Patterns

Symmetrical Triangle

Pattern Description:

A symmetrical triangle engulfs a period of market consolidation in which the range narrows with lower highs and higher lows. This pattern gives no clues as to the direction of the eventual breakout. It can be either upward or downward.
Symmetrical Triangle

Featured Video

Creating Local Data in MetaStock XV

In this video, you'll learn how to work with and create local data in MetaStock 15.

Featured Article

How to Take a Loss

by Brett N. Steenbarger, Ph.D.
There are quite a few books written on how to make money in the market. Some of them are even written by people who have made money as traders! What you don’t see often, however, are books or articles written on how to lose money. “Cut your losers and let your winners run” is commonsensical advice, but how do you determine when a position is a loser? Interestingly, most traders I have seen don’t formulate an answer to this question when they put on a position. They focus on the entry,...

Technical Review

Is Paypal your pal?

2024-03-30 by Tim Straiton

After a long consolidation process, Paypal (PYPL) has now completed a golden cross formation and also made the third highest weekly close since September 2023 at $67. The 200 day moving average, now at $61.56, has started to rise. These factors suggest that further upside is on the cards.

The 14 day relative strength index is currently in overbought territory at 72% and may well provoke some short-term profit taking toward the 200 day moving average at $61.50 level, however as long as rising trendline support at $59 holds, one can assume that this stock can be traded from the long side.

Fibonacci retracement levels encasing the entire $299.79 to $52.04 range seen since July 2021 would set the initial upside 23.6% target level at $105.06.


Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a transaction should be based on your own due diligence and not on any representation we make to you.

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