MaryJane
Long

The Power of a SHS compared with a Trendbreak and a flag

NASDAQ:GWPH   GW PHARMACEUTICALS PLC
81 2 7
You can`t escape the power of a flag :-) TP2 reached. With the yesterday`s Q-3 results GWPH             crashed to its mentioned TP2 of the shs             @ 101.77. GWPH             was traded intraday till 103,06$. Thats`s really har             but it was early predictable. GWPH             closed on its Bollinger Bands & trendchannels bottom edge. IMO that should initiate a little Rebound. For a possible reboundtarget, the 38,2 fibo makes sense. (109,92). The RSI moreover shows an oversold Situation which increases the likelihood for a Rebound. Good trades!

former Analysis: GWPH             with bearish FLAG
GWPH with bearish FLAG

snapshot
The break of the neckline let the price drop to its trendchannel bottom edge. At this niveau, a consolidation between 110,75 - 116 started. This is the neutral Zone.
GWPH             is forming a bearish flag.
This results in two tradingmarks (yellow arrows) :
Short trigger: 110,5 - TP 121,5 (trendchannels upper edge)
Long trigger: 116,5 - TP 101,5 (target of the flag and the max. target of the bearish head-shoulder-Formation.

Target reached!
Target reached!
snapshot
TP @ 112$ - the min target of the mentioned shs             is reached today. Today we kissed the trendchannels lower edge so i exspect a little rebound before TP will be aimed....The possible target of a rebound could be the 38,2 or 0,5 fibo-retracement @ 118,5/ 121 - lets see.

On its way up again
On its way up again
snapshot
The shs             has not be confirmed up to now.
Prices above the "right shoulder" should generate an new buying-Signal with TP1 @ ATH             .
At the ATH-level i exspect a little consolidation before the ATH             will fall.
If GWPH             can Close the days above ist ATH             , that generates a new cyclical target @ 143-147$

GWPH             with bearish H&S ?
GWPH with bearish H&S ?
snapshot
GWPH             is forming a bearish H&S @ the daily chart .
A Close above the right shoulder generates a shortterm target @ ATH            
A Close below the neckline @ 117,75 generates a Minimum target @ 111$ / maximal target @ 103,5$

Consolidation started?
Consolidation started?
snapshot
The middle-term Long-tradechannel has to be discussed.

-A dip to the old breakout-Level @ former ATH             111,5$ has to be exspected, when GWPH             Closes below 117.
-A Close below 111/103 generates a sellingsignal with target @ longterm uppertrend bottom-edge @ 88,5
Bullish Score: 1

Only 1 of 8 indicators are bullish. Prefer a score of 6, 7, or 8 to consider bullish.

snapshot
Reply
MaryJane tradearcher
a year ago
thx for you reply and your interesting indicator setting. Did you create that set on your own? Which logic is behind all These indicators?
Through the years i took distance from trading with indicators. I prefer Trends and classical Chart Patterns, We will see. My mentioned Rebound is a very shortterm view, not sustainable...
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