POET Looks Ready

Pattern Formation

A clear symmetrical triangle pattern has formed since October 2024, characterized by:
A descending trendline forming the upper resistance
An ascending trendline forming the lower support
Price consolidation with decreasing volatility as the pattern progresses

Key Price Levels

The pattern began after a significant price spike to around $5.50 in early October
Current price is consolidating around $4.10
Support level established around $3.50
Resistance trending down from $5.50

Volume Analysis

A notable volume spike occurred during the early October price surge
Volume has been generally declining during the triangle formation
Recent trading shows relatively low volume, typical of a consolidation phase

Technical Significance

This symmetrical triangle pattern typically suggests a period of consolidation before a potential breakout. The convergence of the support and resistance lines indicates a decision point is approaching, where price will likely break either above or below the pattern. The pattern is expected to resolve by late November to early December 2024, based on the triangle's apex.