UTIL 5-Minute Chart Ascending Triangle

Always interesting to note technical patterns. See the ascending triangle? Keystone was watching this today and saw the breakout at 1 PM. Once price breaks above the base line at 423-ish, the projection is made by targeting the same distance up that the vertical side shows on the down side. In this example, the ascending triangle vertical side is from 420.5 to 423.0, or 2.5 distance, thus, 423.0+2.5=425.5, which was printed before the close.  This is the type of chart a day trader would use.

Interestingly, Keystone's proprietary algo, Keybot the Quant, is now tracking 427.21. If UTIL hits this level, it should be off to the races for the upside for the market bulls.  As seen by the chart you can make the case for a vertical side for the ascending triangle of from 420.0 to 423.5, or as much as a 3.5 difference, thus, 423.5+3.5=427.0 target.  This sets up some high drama to watch tomorrow. Not shown is the negative divergence in place for this time frame today so further upside in this time frame would not be projected at this juncture.  This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or from any links associated with this site. Consult your financial advisor before making any investment decision.