AME is showing a classic Ascending Triangle. Don't miss the move.
Bullish continuation pattern.
Sideways movement between parallel supports.
Bullish continuation if preceding move was up.
Reversal pattern. Price likely to break downwards.
Market participants tracking Ametek should note the latest formation. The stock is trading at $241.97, up 0.34% on the day. Algorithmically, a Bullish Flag structure has completed. This setup is supported by average volume turnover. A potential breakout level is identified at $243.65, targeting $268.69 with support near $229.89 (R:R 1.82).
What is your outlook on AME?