Price has now broken out of its pattern and a target of $8.30 is suggested with a secondary target of $9.37 if price moves confidently above $7.80

16 July 2021

AIA has been knocking on overhead resistance at $7.21 since the start of the year. Price is being 'squeezed' between that level and a rising uptrend support line. This pincer movement should see price break and hold above resistance - in which case a target of $8.70 is suggested. Note that price also has the potential to fall back below the uptrend and while a move up is seen as more likely, a buy before the break and hold above resistance would entail some risk.