John Hancock bullish ascending triangle

These days, John Hancock Multifactor Technology (NYSE:JHMT) has completed an Ascending Triangle and a Multi Top formation.
On 27th of august, the price broke up above the Multi Top line and also broke the Ascending Triangle formation and we might see an increase of price if the line reject the price.

If the Ascending Triangle formation completes successfully, then we might see the price at level 54.00 within 4-5 months.
To complete an Ascending Triangle, the price have to break out of the resistance line. In this case, the price broke out a few days ago.
The perfect scenario will be, if the price tested the new support line and start to go up, this is where we will enter a long trade.

If the price break out below the support line, then the formation is not valid and.
Possible profit between 10%-20%
Stop loss around 45.82

John Hancock bullish ascending triangle

John Hancook bullish ascending triangle

See what happened with First Trust ISE Water, when it performed an Ascending Triangle