A key Ascending Triangle has formed on GWW. Analyze the breakout level now.
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 W. W. Grainger should note the latest formation. The stock is trading at $1382.6, up 1.11% on the day. Algorithmically, a Bullish Flag structure has completed. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $1419.91, targeting $1707.35 with support near $1347.27 (R:R 3.96).
What is your outlook on GWW?