A ranging stock is either an enigma or an opportunity. You don’t bet on a stock going sideways. But you might bet on a stock if the ranging is right. A range bound by swing points may be profitable if volatility is sufficient and the ranging is predictable.

Consolidation is a pause, before another step on a trend or a reversal. The more shop there is in a pause, the less certain the next step becomes. The state machine in Cockpit lets you know the likelihood of continuation after consolidation.

Breakout is the potential entry point. Beware false breakouts. Range boundaries are frequently overshot, giving the appearance of a breakout. Such falsity can mislead.