STELLAR - BREAKOUT or SUCKER'S RALLY

In my previous post, Coins on the Verge of Breaking Out, I've singled out Stellar to have the potential to become the star performer for Q1 FY18.

Just a minute ago, it broke out of the resistance hitting $0.35 which could be a signal for the bull run to retrace its previous ATH of $0.90, before resuming its ascent to a new ATH of about $3.00.

Look at the size of the triangle which further corroborates the possible massive uptrend ahead.

If the rally does not give a convincing uptrend (>$0.45 mark) and increasing volume, it may dive for another low and follow the alternative path shown by the yellow line below. This alternative remains faithful to the traditional TA of having 3 touchpoints on the base and ceiling of the triangle as represented by the green and yellow circles. One contrary opinion against this alternative path is that in its previous consolidations (see small red triangles) it did not have 3 touch points either before rallying.

Let's see what happens overnight.

Disclosure: This post does not intend to provide investment nor does it represents that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the article in the process of making a fully informed investment decision.