Live monitoring of the Rectangle setup on EW. See where price is heading.
Sideways movement between parallel supports.
Bullish continuation if preceding move was up.
Consolidation. Can break either way.
Bullish continuation pattern.
Reversal pattern. Price likely to break downwards.
Traders are watching Edwards Lifesciences (EW) as price action tightens. With a last close of $82.84, volatility remains active (-0.16%). Price action has carved out a classic Bullish Flag. This setup is supported by average volume turnover. A potential breakout level is identified at $85.06, targeting $95.89 with support near $78.29 (R:R 1.6).
What is your outlook on EW?