The two boundary lines move downward and the upper line has the steepest angle of descent. This formation will normally resolve upward because the steepest angle is usually the least sustainable. Sounds promising. How far along are we Vic?
We're just more than halfway along the wedge, methinks. "On average, breakouts occur 65% of the way to the wedge apex" "Think of a falling wedge not as a pattern of weakness, but one of strength. Think of the formation as a spring winding tighter and tighter. As a spring tightens, it shrinks, and so too do prices and volume in the falling wedge. During a breakout, the pent-up force releases, and prices burst through the formation boundary and zoom upward." -Encyclopedia of chart patterns
Close on 20080509 through close on 20080620. High on 20080520 through high 20080617. The apex is at just above R100, and the danger is that if it travels down to there, it won't break out with enery. Breakouts with most energy happen at +- 65% distance from start of wedge.
Had some handsome profits on MTN since early this year which have all been wiped out to naught...very sad really.. share price taking incredible strain now and it seems like a long time till the exclusive merger talks end on July 8. Wonder if the worst is over...