TA’s weekly chart not bad

TA was able to slice some of its losses before the week concluded. After falling to 2.05 it close the week at 2.21 per share showing some bullish sentiment as it clings to the support line. If we look at the its weekly chart, we could see that TA is developing a Rectangle Formation. Last time it bounce after we saw a Hammer candlestick followed by a large green candlestick. Will the movement be replicated?

A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. The pattern is easily identifiable by two comparable highs and two comparable lows. The highs and lows can be connected to form two parallel lines that make up the top and bottom of a rectangle. Rectangles are sometimes referred to as trading ranges, consolidation zones or congestion areas. -stockcharts.com


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