DD is again on another breakout from a Bullish Pennant pattern, a trend continuation pattern. Projected target from this breakout is around 49 (45~49 range).
*DD is overbought on many indicators.
Previous DD update:
http://psetrends.blogspot.com/2016/01/dd-position-trade.html
Trading Plan
- Hold and profit run the remaining position from previous trade (see previous DD post).
- If trading this pattern, set tight stop around 32.7 for a risk/reward ratio of at least 1:2 (to initial tp at 45).
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