HGEN - Bearish Bat Based on Ratios -> convergence of 100 MA / 200 MA and also previous support line turned into resistance.
Ratios:
AB = .363 XA
BC= .996 AB(*outside of standard ratio)
CD= 2.414 - 2.618 BC
D = .886 XA
The Potential Reversal Zone (PRZ) finds itself in the crosshairs of the 100MA and 200 MA on the weekly scale. In addition, this area is also where an S/R flip has transpired; previous support turned into resistance.
Pattern activated with a strong close above point B which is $3.98.
Ratios:
AB = .363 XA
BC= .996 AB(*outside of standard ratio)
CD= 2.414 - 2.618 BC
D = .886 XA
The Potential Reversal Zone (PRZ) finds itself in the crosshairs of the 100MA and 200 MA on the weekly scale. In addition, this area is also where an S/R flip has transpired; previous support turned into resistance.
Pattern activated with a strong close above point B which is $3.98.
Comment:
Pattern invalidated. Trade closed.