Symmetrical Triangle Pattern

Refer to the chart pattern of KNM, it forms a symmetrical triangle right now. The upper trend line is the resistance while the lower trend line is the support of the stock price. As the chart approaching the tip of the triangle and finally it will break out either way. As you can see the volume is getting less during the consolidation. We normally do not buy a stock during this time. We will wait until it breaks out upper trend line with reasonable volume. Lets wait for a few more days.

Click to enlarge