Stock name: Aegis Logistics

Pattern: Rounding bottom breakout

Time frame: Weekly

Observation:

The stock has broken out of a rounding bottom pattern.

Once the stock breaks out of such a pattern, the stock travels the distance equal to the difference between the neckline and the bottom of the rounding bottom pattern. Since this is a weekly time frame, it is usually perceived that these positions can take many weeks / many months of time to move.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

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