OTC:FANUY is forming 5 month possible head and shoulder continuation chart pattern. The $20 chart pattern neck line has been tested numerus times through out the years going back all the way to mid 2018 (zoon out to the weekly chart for the bigger picture). A daily close above $20 will finally break that wall of resistance that's been acting as a ceiling for the stock and set the stage to a rally towards $24 area (next resistance level).
Your inverted H&S pattern played out quite well. Good call. Prices more than followed its measured move target. But now you have some areas where prices will present buying opportunities and you want those. You have gaps to fill and price revisitations at lower prices. If gap fills preceding the current unfilled gap fills on the chart are an indication of how quickly you will see buying opportunities again, you won't have to wait long and a nice buying opportunity presents it self at the $10.73 mark.
@azizbtc the beginning of the left shoulder could have been a bit more closer to the neckline. other than that, it's there and the pattern is tradable (for me at least :) ).
azizbtc
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@TaPlot, it looks like an inverse SHS but in the top !
TaPlot
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@azizbtc, yes, inverse head and shoulders that appear after an uptrend are continuation patters. So they are also known as Continuation head and shoulder patterns.