Monday, July 27, 2015

DD: Breakout from Rounding Bottom pattern (update)

Double Dragon Properties Corporation

The 4-month Ascending Price Channel breakout target has been hit already at 12.6 (12.6~13.2 range). The breakout from Double Bottom reversal pattern remains in play with potential target around 14~15.

*Immediate support at 10.96/11 (previous resistance prior to breakout that now act as support).
*DD is now overbought.

Previous post on DD (July 21, 2015):
http://psetrends.blogspot.com/2015/07/dd-breakout-from-rounding-bottom-pattern_21.html

Trading plan
- Take profit or scale down position if trading the price channel breakout.
- Hold for mid to long term position.
- Remains a buy on pullback near support.


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