2waytrading
Short

Scary Head and Shoulder's Top

NASDAQ:CSIQ   CANADIAN SOLAR INC
227 0 3
End of last year and and early of this year price peaked and printed what looked like double top bearish pattern with measured target of 42% drop hard to believe at the time, but in a few months that measured target price was hit, and now price is forming what looks like another bearish pattern but not that strong unless we see a decisive breakdown from the neckline this bearish pattern is predicting a possible drop of at least 40-50% from $27 level. But Friday's price resurgence is a little bit of concern.Though market may finally be giving hints of a bullish resurgence, it is worth mentioning the piercing bullish pattern . If you want to take a short position watch $30 for clue or trigger if it goes below 26.00 with target price 20.24/15.38 with stop loss at 30.50. Do your homework before you take any position and see if it fits your investment style. if you need real time alert try us www.2waytrading.com
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