IRApTOIR
Short

A2 Milk - Confirmed H&S

ASX:A2M   THE A2 MILK COMPANY LIMITED
I reported earlier in the month that A2 Milk was showing a good formation of a head and shoulders pattern.
This week we had a confirmed breakout of the neckline, here is my complete analysis.
  • Price has fallen and closed below 30EMA (weekly).
  • Price has fallen and closed below 200EMA (daily).
  • CCI indicator(daily) is reading 222, which is a sign of strength to the downside.
  • Mansfield Relative Strength ( XAO )(daily) is below zero showing A2M is under performing the All Ords.
  • Price has closed below Neckline of Head and shoulder pattern for 2 periods (confirmation).
  • Target price on the down side is roughly $10.7, using a 30EMA weekly as exit once price closes below on weekly time frame.

If you enjoyed this idea, please subscribe for more technical analysis in the future.

Disclaimer - This in not financial advise and may not fit your financial needs, do you own analysis before investing any of your money or seek advice from a qualified financial advisor.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out