Good example of Consolidation

Below is a daily chart of CECO. This is a good example of a stock making lower highs and higher lows, forming a triangle. Over the same period you can see the stochastic going form oversold terriroty back towards 50. What this tells us is that some of the buyers are taking profits, but not so much that the price is falling dramatically. When you have the price move essentially flat but the stochastics are trending down, its often a sign that the stock is just making a correction instead of a trend reversal. This would have been a nice short term trade to get in once it broke out of the triangle on a gap up. Unfortunately I was looking at CECO on a longer time frame and failed to recognize the pattern.