Navigator in the CFD dealing world

Price consolidation usually gives us a signal about further movement of a stock which can be defined after the price leaves the consolidation zone, especially when it happens in the form of Triangle. Hershey Co (HSY) demonstrates this case. See the chart below.

Daily chart of HSY

The nearest solid resistance level is $52 that exposes the next possible target. Most often Triangles have 5 waves before rally continues, so now further fluctuations between the lines of the Triangle pattern are possible despite the price has broken the upper line. It is advised to wait for additional confirmation (1 or 2 bars) before trading.

If the price retraces, breaks the lower line and closes the gap at the beginning of the Triangle (on April), then further fall may continue.