MaGedEssam
Long

HCP Testing its neckline

NYSE:HCP   HCP INC
HCP             is forming a clear Head-and-Shoulders pattern. It is still not completed as the stock is testing the neckline at 43.00, but odds favor breaking that line to successfully complete that pattern and target 50.00.

What gives more weight to this scenario is RSI structure. RSI moved in the blue rectangle during the pattern formation and it managed to break it in the right shoulder, suggesting the persistence of strength.

A confirmed breakout above the neckline -closing above 44.00- would push the stock to 50.00.
Stop loss below 42.00
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