The beauty of patterns is that they provide us measurements. ABM's breakout measures roughly 8 points (top of ascending triangle to bottom). If we add those 8 points to the breakout level of 36.75, we get a target of close to 45.00, which would sent ABM to an all-time high. Note the green-shaded area. I highlighted that because many traders grow impatient when a continuation pattern forms. ABM showed relative weakness during that
period, but that's typically to be expected when a stock consolidates. On any pullback, the breakout level at 36.75 becomes key price support.
Happy trading!
