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