Candlestick & Breakout Patterns

A Peep Into PENTA's 13 Years Chart Plus Two Target Price Inside

Ming Jong Tey
Publish date: Thu, 12 Jan 2017, 05:49 PM
Understand the psychology behind the candlestick & breakout pattern will give you an edge to realize why the market does what it does and anticipate opportunities before they happen!

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PENTA had an awesome bull run last year and up over 100% from 0.6. 

Let's take a peep into PENTA's long term chart below:

PENTA 13 Years Long Term Chart

The chart above is from 2004 till now. We can see that PENTA forms a beautiful rounding bottom and is in the process of breaking up, with a long-term target price of 2.7-3.0.

From the daily chart below, PENTA recently broke out from a triangle and is heading to challenge its previous swing high.

PENTA Daily Chart

Should one trade on the breakout, a valid stop loss could be below the previous swing low, as circled in red above. The immediate target price based on the projection of the triangle is 1.90.

I am bullish on PENTA and based on the weekly chart, we can see the price is going up with acceleration. It should have its super bullish leg up to hit 2.7-3.0 based on the rounding bottom breakout.

PENTA (7160): Bullish

Pattern: Rounding bottom & Triangle

Having said that, do have your stop loss in place --> for every trade and manage your risk along the way with proper position sizing -->

Further Reading

How to determine the "bullishness" of the patterns

The Trade Management Technique You Need To Know -

Best Way To Learn To Trade Without A Mentor -

Stop Loss & Safe Trading -

Come Up With Trading Ideas & Turn Them Into Investing Ideas -



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2 people like this. Showing 6 of 6 comments


Penta worth a re looking.

2017-01-12 21:19

Ming Jong Tey

Yup @VenFx . It is a fundamentally strong stock. Net cash, with 0.18 net cash/share, EV/EBIT < 9.

2017-01-12 22:03


Thx for sharing Ming Jong Tey

2017-01-12 22:42

Ming Jong Tey

Welcomed @VenFx :) Its ROIC = 29% & ROE = 18% Good stock, downside is cash yield not good < 3%

2017-01-12 23:02


$2/ almost a sure case.

2017-01-12 23:06

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