A key Descending Triangle has formed on RJF. Analyze the breakout level now.
Bearish continuation pattern.
Sideways movement between parallel supports.
Market participants tracking Raymond James Financial should note the latest formation. Price has moved to $142.2 (-0.84%) amidst recent volatility. Price action has carved out a classic Descending Triangle. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $138.82, targeting $117.38 with support near $146.99 (R:R 2.62).
What is your outlook on RJF?