Novice Traders' Notebook | MAY 1997
On Rising Wedges by Thomas Bulkowski
On Rising Wedges by Thomas Bulkowski As your stock rises and sector rotation becomes more pronounced, it's wise to be alert to a chart formation called a rising wedge. Rising wedges can get you out at the top before your stock tumbles. Here's a refresher on this intriguing formation. Rising and falling wedges share common traits with the triangle family. In previous articles, I discussed three forms of triangles — symmetrical, ascending and descending triangles. Recall that symmetrical triangles have bounding lines — one slopes upward, while the other slopes downward. In ascending triangles, the top boundary region is described by a flat line, while the other boundary region slopes up to meet it. Descending triangles have a flat region as their base while the top slopes downward. Lines connecting the boundary regions intersect at the triangle apex and have generally diminishing volume over time.
by Thomas Bulkowski
Technical Analysis of STOCKS & COMMODITIES
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