#SKL
This analysis discusses the price action of $SKL, highlighting:
*Key Points:*
1. *Descending Triangle:* SKL is consolidating within a descending triangle pattern.
2. *Demand Zone:* Price is rebounding from a horizontal demand zone.
3. *Resistance Barrier:* 21MA is acting as a resistance barrier above the price action.
4. *Breakout Potential:* A breakout above the 21MA and pattern's resistance trendline could trigger upward momentum.
*Trading Strategy:*
1. Monitor price action around the demand zone and resistance trendline.
2. Look for a breakout above the 21MA and resistance trendline.
3. Consider buying on a confirmed breakout, with a stop-loss below the demand zone.
*Potential Outcome:*
A successful breakout could lead to upward momentum, while a failure to break out might result in continued consolidation or a decline.