LAZR: Coil / VCP with Volume Drying Up

The concept of tightening price action, lower highs and higher lows, along with volume declining, will often lead to a breakout that follows in the direction of the prior trend. William Jiler in 1962 referred to this as a coil. Mark Minervini describes similar price action as a volatility contraction pattern (VCP). It is also known as a symmetrical triangle.