Potential for a 50% Rally in This Stock is Rising
Note the stock below is working on a break above line (2) which represents its 23.6% Fib resistance formed off its recent highs and lows. This resistance, as indicated by the red arrows, has been formidable for the stock over the past.
Not only does line (2) represent 23.6% Fib resistance, it represents the top of a bullish ascending triangle pattern with the bottom formed by line (1).
Given this technical set-up, which we believe is on the cusp of resolving itself bullishly, the stock is apt to make a quick, 50% move, indicated by the green arrow.
This level represents line (3) resistance, or the top end of an upward sloping channel defined by it and line (1), as well as 50% Fib resistance indicated by line (4).
Which stock is this?