Pandora Media Inc (NYSE: P)

Pandora Media, Inc. provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access free music and comedy, as well as offers Pandora One, a paid subscription service to listeners. It is also involved in the sale of displays, audio advertising, and video advertising products to advertisers for delivery on computer, mobile, and other connected device platforms.
Take a look at the 1-year chart of Pandora (NYSE: P) with the added notations:

P has created a simple chart pattern known as a symmetrical triangle. Combining a down trending resistance (red) with an up trending support (blue) forms the triangle pattern. As the support and resistance converge on each other the pattern is created. Since there is no way to know which way the stock will break, most traders will wait for the breakout, or breakdown, before entering a trade.
The Tale of the Tape: P has formed a simple symmetrical triangle. A trader could enter a long position on a break above the down trending resistance (near $27.50) with a stop set under the entry level. However, if P were to break below the trend line support (currently just above $25), a short trade could be entered with a stop above the trend line.
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