BAH has broadening trendlines, also called a megaphone pattern.
Fell out of megaphone trendline, which can be a negative situation. BAH fell through bottom bollinger band set on 80 as well. Usually if a security breeches the top or bottom trendline of the bands, it moves back inside the bands.
Megaphone patterns can break up or down, and this one looked like it was breaking down. Then poof, up it went.
I though I saw a Cypher pattern but CD leg did not quite make it to the .786, very close and may not go down that far and the bollinger band pierce may have saved it. Remains to be seen.
This pattern is labeled X, A, B, C. D
Some do not consider the Cypher pattern a true harmonic pattern, but is similar to a shark as both have a BC leg higher than the AB leg. The shark has a much deeper D.
Stock is oversold on daily RSI set at 80 and 30.
Cautious due to megaphone pattern but these patterns can go back up as well and reach the top trendline until they break up or down. This one did break down, briefly.
Not a recommendation
Fell out of megaphone trendline, which can be a negative situation. BAH fell through bottom bollinger band set on 80 as well. Usually if a security breeches the top or bottom trendline of the bands, it moves back inside the bands.
Megaphone patterns can break up or down, and this one looked like it was breaking down. Then poof, up it went.
I though I saw a Cypher pattern but CD leg did not quite make it to the .786, very close and may not go down that far and the bollinger band pierce may have saved it. Remains to be seen.
This pattern is labeled X, A, B, C. D
Some do not consider the Cypher pattern a true harmonic pattern, but is similar to a shark as both have a BC leg higher than the AB leg. The shark has a much deeper D.
Stock is oversold on daily RSI set at 80 and 30.
Cautious due to megaphone pattern but these patterns can go back up as well and reach the top trendline until they break up or down. This one did break down, briefly.
Not a recommendation