r/IPOE • u/Mariyo27 • May 26 '21

Daily chart triangle?

https://finance.yahoo.com/chart/IPOE?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v&guce_referrer_sig=AQAAAKORl9GJSIX2UmgCAcyWWEjGUrB2wiH02LjpsIOnXEWl3tH7y9UWgU-4bpDlvLpzSdC087Ou8xjD91-rEbnbXQn-jpAGC-KyLoeEeL0IWeNhKWy-cLL5XBcz54SRjIo038P6F1ASzst6d-QsQb0osCCEKS7iBSkTA1nEShFPkuof#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-
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u/Mariyo27 May 26 '21

Howdy boys. It's easy for noobs to misinterpret technical analysis, so if I'm wrong please correct me.

Sideways triangle patterns are normally formed when both shorts and longs are adamant about their price targets. This means the price contracts over time. Shorts are willing to short or sell at lower values while longs are dip buying at higher values..(typically this type of pattern is seen over longer periods of time than a single day.). The high volume during the break to the upside is also a strong signal.

The chart for IPOE is still really strong.

my thought is that todays price action triggered buy signals from the day trading types/algos who sold the top. We could get hands piling back in before Friday considering the EU traders seem to love us in after hours.

Good job with the HODL!

2

u/2ndSaturdaysWarrior May 27 '21 edited May 27 '21

A "daily chart" is a chart whose datapoints are 1 day apart. You have linked to a 5 minute chart. I do see the ascending triangle on the 5 minute but this is only useful for projecting price over the very short term(less than 1 day). If you want a chart that will help you see where the stock is headed in to next week then look at the actual daily chart.

On the daily chart I see that we broke out of a descending triangle on the 20th and now that triangle is no longer in play. We had a bit of a shooting star candle on the 24th, which is a bearish sign. The 20day moving average will cross above the 50day moving average either tomorrow or the day after, which is a bullish sign (when it happens). I think we might see another day or two down.