Undertow
Long

A Bestiary of Heads and Shoulders

CHXEUR:CSGNZ   CREDIT SUISSE GROUP AG
PLEAS NOTE THAT ALL PRICES ARE IN SWISS FRANCS CHF!!!

1. A complex head and shoulders pattern (with two heads) The price target is just below 10
(Height of head is 15.79 - 12.49 = 3.30 and PT is 13.06 - 3.30 = 9.76)
2. An inverse head and shoulders pattern. The price target is just above the resistance of the automatic rally on February 15th around 14.50 (which is equal to the top of the shoulders of pattern 1)
(Height of head is 12.75 - 9.76 = 2.99 and PT is 11.49 + 2.99 = 14.48)
3. An inverse head and shoulders pattern. Its price target is still uncertain but around 17.50 which is the support range of the bear flag during the end of January this year.
(Height of head is 13.26 - 9.76 = 3.50 and PT is 14.00? + 3.50 = 17.50)
4. An inverse head and shoulders pattern with price target of around 15.17 (which forms the right shoulder of pattern 3) I mentioned this pattern in a previous post. It has the same PT as a bull flag , see the link below.
(Height of head is 13.38 - 11.91 = 1.47 and PT is 13.70 + 1.47 = 15.17)
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