Thursday, May 12, 2016

DD on another breakout

DoubleDragon Properties Corp.

DD is on another breakout from recent Rectangle consolidation pattern. A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. Measured target from this breakout is around 43 (already hit).

Check this link for more details on Rectangle chart pattern characteristics:
Rectangle (Continuation) - stockcharts.com













The previous breakout from Bullish Pennant pattern on the daily chart also remains valid with a measured target of 49.
http://psetrends.blogspot.com/2016/03/dd-chart-update-breakout-from-bullish.html

*There's also another breakout on the weekly chart from Rectangle consolidation pattern that remains valid with measured target around 44 (breakout from 26 resistance).

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