I have strong believe in head and shoulders pattern particularly when it confirmed by break neckline as shown here. Buy near current price and stop loss is below 16.35 while mt target set at 22.5. Hope it good deal. By the way I am option trader rather than stock .
Thomas Bulkowski, the author of encyclopedia of chart patterns, said " This formation (head and shoulders) rarely disappoints and the rise is worth betting on". This sound is so encouraging, I will jump in here. :)
Engulfing bullish candlestick.
Trade closed: stop reached:
Unfortunately, earning not as expected and fall in extended hour. At last minute I bought put option Aug. strike 16.5 @ 1.06. Head and shoulders pattern in failed.