There are numerous common elements that you will find in every stock chart. One of the elements that I want to review today is the Trend Line (TL) – and specifically the TL “break”.
Many of you understand this concept, but for those that don’t I bring you the Daily chart of DNR (Denbury Resources):
Price is currently hitting the 38.2% Fibonacci Resistance line, but just above you can see a declining TL that price is heading towards. If no current position, the trade it play the reaction to the TL test.