Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the watchlist section a bullish ascending triangle chart pattern opportunity, listed on the Nasdaq Stock Exchange.
PROOFPOINT INC (PFPT.O)
Proofpoint (NASDAQ:PFPT) is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 5 month-long ascending triangle with the horizontal boundary acting as strong resistance at 132.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 136.00 levels will confirm the breakout from the 5 month-long ascending triangle with the possible chart pattern price target of 160.00 levels. Data as of October 15, 2019
