08/10/2018 |

TrendSpider Technical Analysis Progression: HTGM

We were lucky enough to catch this progression of HTGM over just a couple days! Watch this 3 chart series of HTGM breaking out of a symmetrical wedge and then moving to the next level of resistance identified by the TrendSpider platform. The beauty of this is that not one trendline was drawn manually!

Figure 1: This first chart shows TrendSpider’s platform catching the most relevant trendlines on this timeframe which happen to be forming a symmetrical wedge. Notice that the data is also refreshed here so the algorithm is able to use the most up-to-date information. 

Figure 2: As the price breaks out of the falling wedge setup, the system automatically looks for the next level of relevant resistance above which is identified by the two connecting points shown by the white circles. 

Figure 3: The price continues to breakout until it tests the purple trendline which the system had identified as significant. The price then quickly pulls back as selling outpacing buying. 

 

We encourage users to snap any before and after screenshots they have in order to have a chance at being showcased on our website! If you have any images you would like to send in, please send to hello@trendspider.com.

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