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Organovo Holdings, Inc. Message Board

  • jesse77727 jesse77727 Nov 7, 2013 2:35 PM Flag

    Ascending Triangle 101

    Some have talked about this and I think most have been a bit off regarding their assessment. ONVO began forming an ascending triangle towards the end of July. Those who identified it and capitalized on it once the ascending line met the horizontal line were handsomely rewarded....... and it was a very obvious ascending triangle.

    For those who have no idea what I'm talking is when you have a series of higher lows and you can basically draw a horizontal line across the highs.... and it usually occurs over a period of 1 to 3 months.

    The horizontal trend line could be drawn at about $6.10 and has been in place for about 3 months.....if you draw a trend line diagonally up from the Aug 2nd low, it meets the $6.10 horizontal trend line on about Oct 18th-20th, completing the ascending triangle and thus triggering a breakout.

    The distance between the widest point on the triangle generally implies the distance that the stock will rise during the breakout.

    Ascending Triangle

    (I'd be happy to outline the SSYS technical signal which implies a move to 150 if anyone is interested.....i sold my shares of VJET for a 70% gain and moved long in SSYS on the fundamentals and the technicals)

    Sentiment: Strong Buy

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