In Recovery From Head And Shoulder Pattern. Good momentum moving back up, should open and continue up to the 200DMA (Blue Line). Good opportunity to Gap up and over Tuesday morning if it stalls There EOD Monday.
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NVIDA's ER on Thursday should accelerate movement up if news is positive. All Semis should see some positive movement.... if not i think it will stall near 16 end of week. Holding MAY18 16C and MAY18 18C. Ride it until I'm up 150%-200% picked them up cheap .15 & .03
I think you are right about the H&S but you missed the right sholder and therefore neckline is wrong. Textbook H&S would have the neckline tilting downward. I see the consolidation of the head ending 30-April and then right sholder starting to rise 1-May and top off at 14-May right at your lower high resistance line. I believe the right sholder as you show on your chart is a false breakout.
llandsberg
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@DanBrooks123, Good call on the false breakout, lets see where this right shoulder takes us to...
DanBrooks123
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@llandsberg, your first chart was right on calling the right sholder. It looks like CY is breaking the Lower High trend line. Do you see an inverse H&S completing just now?
Also there looks to be a uptrend and acsending triangle that CY is about to break through. I missed this one...