I was flipping through some charts, looking for examples for a presentation, and came across CM. CM’s weekly chart is a classic example of a symmetrical triangle formed by volatility contraction, then being resolved with volatility expansion. Symmetrical triangles–weekly ones are rare and usually powerful–are continuation patterns. They usually break out across the 2-4 line, not the 1-5. Generally, they form about mid-way through a move, so CM may top 120 eventually. Right now, it is short-term overbought on the daily. It may slip back to the rising 50-day EMA around 70, which would be a logical support level.