ASCENDING TRIANGLE BREAKOUT

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the breakout section of the weekly report. It is featuring an ascending triangle chart pattern on E-J Holdings Inc.

E J HOLDINGS INC (2153.T)

E-J Holdings Inc. is a Japan-based company mainly engaged in the comprehensive construction consulting business. The Company is engaged in the comprehensive construction consulting business that can provide from planning to construction supervision in public works of government offices. The stock is listed on the Tokyo Stock Exchange. Price chart formed a 2 year-long ascending triangle with the horizontal boundary acting as strong resistance at 1,375.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. The daily close above 1,415.00 levels confirmed the breakout from the 2 year-long ascending triangle with the possible chart pattern price target of 1,770.00 levels.

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