Here’s Why I Love Triangles


News reversals are great, but sometimes
when a stock goes “airborne”
you need to look for those
opportunities that afford you a good low risk entry, anticipating the stock to
“take off” once more, in the direction of the original intraday trend.


Setup Alert

Airborne Inc (ABF)
has pulled back to a potential support zone comprised of the 13, 50, and 200-Day
The stock is now consolidating after beating earnings estimates and
gapping higher. ABF is up 1.27 at 14.28.


We had nice background evidence in the form of
three moving averages off the daily chart that laid the groundwork for which to
work our consolidation pattern. ABF eventually set up 3-Bars later as a
ascending triangle, proving that the skies are indeed a friendly place for
investors who booked a flight on Airborne in today’s session.