Fiber has been bearish since May this year, basically since the beginning of the year from the consolidation on Weekly timeframe which showed us the Head and was followed by a nice price drop towards the neck and created the right shoulder then broke the neck last week. So at the moment what we are looking at is a short retracement after the neckline/support breakout which seems to be taking a while but we will hold on because remember there is a gap down that will have to be closed. If you follow my other Fiber analysis you'll notice how its been doing/performing.
What we have here today is a possible Head And Shoulder pattern, an upside down Head And Shoulder ( a.k.a Kings Crown) which will be confirming the third touch on the bearish trend/trendline. The completion of that last leg from the time the breakout of the neckline to the trendline will be a good position to enter a sell.
What we have here today is a possible Head And Shoulder pattern, an upside down Head And Shoulder ( a.k.a Kings Crown) which will be confirming the third touch on the bearish trend/trendline. The completion of that last leg from the time the breakout of the neckline to the trendline will be a good position to enter a sell.
