Let's analyze the reversal pattern of the graphical analysis “expanding formation”On the example of the XEC stock (Cimarex Energy Co.)
Expanding formation
Chart analysis reversal pattern «expanding formation«. On the chart, we see the formation of this model. Through points 1, 2, 3 And 4 support and resistance lines were drawn.
The entry was a breakdown of the support line at the point 6. We also see an increase in volume upon breakout. This confirms the reversal. И в результате, we see a change in trend from upward to downward.
More examples of trading patterns can be found on the page “reversal patterns“, and "graphical analysis“.
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