Symmetrical Triangle Pattern

Symmetrical Triangle Pattern:

A symmetrical triangle is a technical chart pattern characterized by converging trendlines. This pattern often indicates a period of consolidation, followed by a breakout.

Bullish Breakout: If the price breaks above the upper trendline, it is typically seen as a bullish breakout, suggesting that the price could move higher.

Bearish Breakout: Conversely, a price movement below the lower trendline is considered a bearish breakout, signaling a potential downward trend.


In the chart, the price is nearing the apex of the triangle. If the price breaks above the upper trendline, the target price could be approximately $71.03, based on the pattern's projected breakout level.

Target Calculation:

The price target for a breakout is generally calculated by measuring the height of the triangle at its widest point. This value is then added (in the case of a bullish breakout) or subtracted (for a bearish breakout) from the breakout point.

In this case, the $71.03 target suggests that, based on the symmetrical triangle's height, the price could potentially reach this level if the breakout is to the upside.