Analysing a number of patterns that show Afterpay could fall to $8. It reached high prices quickly, and is falling quickly in the same stead. This long term support at $8 has been tested as resistance and ATH which has then been tested as support.
Please note, I'm not a pro - just someone that finds doing this interesting. I hope this provokes some thoughts in others, and would love to hear opinions.
Its a funny trade looks like it could retest the shoulder and break neckline around $11.20 like H and S above. Then again the Vol has been all over the place the last week so not a textbook indication.
douglasfletcher74
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I like it. Target for head and shoulders conventionally is the height of the head transposed below the break line, so that gives a target of $7.50