POET Technologies Inc.
PTK has formed a symmetrical triangle. It is important to watch what the next few days will bring.
Definition of 'Symmetrical Triangle'
A chart pattern used in technical analysis that is easily recognized by the distinct shape created by two converging trendlines. The pattern is identified by drawing two trendlines that connect a series of sequentially lower peaks and a series of sequentially higher troughs. Both trendlines act as barriers that prevent the price from heading higher or lower, but once the price breaches one of these levels, a sharp movement often follows.
A symmetrical triangle is generally regarded as a period of consolidation before the price moves beyond one of the identified trendlines. A break below the lower trendline is used by technical traders to signal a move lower, while a break above the upper trendline signals the beginning of a move upward.
The sharp price movement that often follows a breakout of this formation can be captured by traders who are able to identify the pattern early enough.
The sharp price movement that often follows a breakout of this formation can be captured by traders who are able to identify the pattern early enough.
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moneydigger
City
Rank
Treasurer
Activity Points
892
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Date Joined
07/26/2013
POET Technologies Inc.
Symbol
PTK
Exchange
TSX-V
Shares
259,333,852
Industry
Technology & Medical
Website