The Nen-Star pattern is Bearish.
Crooked W.
Valley 2 is lower than valley 1.
Last leg appears to have landed at the 1.272.
It looks like MSI was in the midst of forming a Bull Flag and the CPI report may have interrupted it's completion.
Watching for now.
Price is still above the .236 fib level of the long trend up.
Strong stock.
No recommendation.
ATH 273.65
Crooked W.
Valley 2 is lower than valley 1.
Last leg appears to have landed at the 1.272.
It looks like MSI was in the midst of forming a Bull Flag and the CPI report may have interrupted it's completion.
Watching for now.
Price is still above the .236 fib level of the long trend up.
Strong stock.
No recommendation.
ATH 273.65
Comment:
12-29-22
FLAG/The pole is down/neutral until broken
FLAG/The pole is down/neutral until broken
The Shark is measured using the OX leg which is leg 1 and is labeled OXABC.
This pattern also has valley 2 lower than valley 1 in the bullish version and peak 2 higher than peak 1 in the bullish version. The impulse wave, OX, is down in the bearish version and appears like a crooked W as does the Nen-Star and Cypher patterns in their bearish versions.
All 3 patterns are similar in appearance but each have certain fib levels that differentiate them from each other.