On the weekly chart, there is a massive pattern which just keeps failing to break below the neckline. This was the 3rd attempt at a break below, and it looks to me like this is a clear rejection, again. In theory, when a pattern fails to break, the target for it is the top of the head. However, I labeled a first target at the shoulder line, where there is strong support. If that breaks, I am looking for the high at $240. As for the setup itself, there is a candle with decent after a big fall, a class a big on the , a deeply oversold and climactic on the Wave .
On the , there is a very deep class A that formed right at the neckline. I labeled the day this setup was confirmed, however, I find it very difficult from a psychological standpoint to enter before a close above support, which happened on the 15th.
SOFT stop below the neckline, with a first target at the shoulder line.