Trader's Logbook

CPG is still withing the bounds of the ascending triangle (a continuation pattern). It may take a few more days before we will know where this will be heading. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation.

Caveat!