One of our favorite patterns during a bull market is the ascending triangle pattern, especially a multi-year ascending triangle. On October 12 we posted the chart below, asking what would you do with this opportunity?
Since the original post on 10/12, Hawaiian Electric is up 10%, out-pacing the S&P 500 by nearly 8% in 7 weeks.
The chart above adds a measure move calculation to the pattern, reflecting that the bullish ascending triangle suggests in the long term that HE has more room to run to the upside, where it could reach the target at (2).