Use advanced tools to confirm the Ascending Triangle on PNW before you trade.
Bullish continuation pattern.
Bullish continuation if preceding move was up.
Reversal pattern. Price likely to break downwards.
Sideways movement between parallel supports.
Market participants tracking Pinnacle West Capital should note the latest formation. The stock is trading at $102.7, up 1.15% on the day. The primary technical feature is a Bullish Flag formation. The trend indicator is reading 1.8/100, suggesting moderate momentum. A potential breakout level is identified at $103.97, targeting $121.59 with support near $97.26 (R:R 2.63).
What is your outlook on PNW?