Interesting head and shoulder pattern. Next resistance is a little over 1 point away but I can keep stop close for a decent reward-risk.
Comments
StockFan26
⋅
Got stopped out. Big sell off today
timwest
⋅
I like the overall pattern, but I would choose different parameters for the trade.
StockFan26
⋅
Thanks for your comment, could you elaborate on the parameters?
timwest
⋅
Bases require a bit more time to develop. The volume on the down days back on May 13-14 suggested that there are still some strong sell interest in the stock. I think the way it is behaving now is more indicative that the sellers are getting out of the way. So, I haven't had much to say until today's low volume selloff. More comments to follow tomorrow.