TradingView
Juliac
Jul 10, 2022 4:29 PM

BL - potential bullish H&S Pattern Long

BlackLine, Inc.NASDAQ

Description

It is likey the low of 49.66 hit on 12 May is "the" low for now as we see a bullish pin bar has formed on the monthly chart on relatively high volume.

Now appears to be forming the right shoulder of a Head and Shoulders pattern with neckline around 78. A breakup of this neckline (preferably on relatively good volume) will likely mean the stock has turned the corner with a possible H&S target for around 106.

Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
More