I placed a buy a sell stop order on PTEC:LSE and have been filled at 303p. This is a simple triangle trade which sometimes indicates a continuation of the previous trend. However, in this instance, the price was struggling to make a clean break through the .618 level and there was divergence on the macd and convergence on the stochastic. Importantly, the weekly chart has been in a down trend since March 2010. This morning, the price has already re-tested the lower line of the triangle (which often happens) and appears to have been rejected ...but I will have to wait and see how this plays out
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