SUMMARY
Tierion (TNT) has a very handsome looking Cup & Handle pattern! The impulse is contained as part of the right side of the cup and the resulting abc correction represents the handle formation. Price is also showing to have breached the upper line of the wedge pattern and this is bullish! The key question is how bullish could it be?
Usually, a higher resolution chart view provides much clarity. Below shows Elliott Waves that could start impulsing to a full set of five waves. Thus far, only waves 1 and 2 are complete and so 3,4,5 need to be placed. Usually, a breakout begins to accelerate, so overnight price action is likely to propel prices higher.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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