In this chart we're looking at SWN on the 1D chart as price has consolidated into a rectangle. Price has broken down through the horizontal boundary around $1.78 and has confirmed the breakdown after printing a 1D candle through the $1.73 area.
This rectangle has a price target of around $1.11 for about a ~37% gain.
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This rectangle has a price target of around $1.11 for about a ~37% gain.
If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year!
Drop a like or comment if you found this idea informational or helpful in any way!
Cheers!