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DGI: Triangle – a pattern of uncertainty?

For around six months the stock traded within a narrowing volatile band.

Attempts made in late October to break out of this triangle to the downside fell through. The lower bound of the formation was crossed, which is a signal to short the stock with a target of USD 18. Speculative stop loss orders can be placed above USD 27.50.

Fundamentally, the stock is No. 2 on the list of overvalued shares in its segment, Aerospace/Defense Products & Services.

The synthesis of two technical analysis methods implies short selling. 

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DGI: Triangle – a pattern of uncertainty?

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