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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: dan36 who wrote (98594)5/19/2000 5:31:00 PM
From: Jenna  Read Replies (2) of 120523
 
VRSN marketgems.com Its an ascending triangle and in this case you'll note its after a particularly long DOWNTREND of VRSN. Ascending triangle patterns like this are important after downtrends because here we see as an attempt for a bottoming of VRSN and possibliity is bullish for the future. Of course a breakout of the ascending triangle will be at 140 or so but 137 looks like a resistance breakout before the ascending triangle breakout.

Since we are both looking at the daily chart the trend is longer term. We can see that because of these patterns of VRSN we can have some good buy triggers from the intraday charts for day or swing trades BEFORE it breaks out of the daily charts.
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