Bullish Inverted Head and Shoulders (If u like this pattern here
Please, check the stock's recent news, earning calender as well as other factors that may influence the price movement. This is just educational purpose. This pattern is identified when the price action of a security meets the following characteristics: First the price falls to a trough and then rises once you identify this section, check if price falls below the former trough and then rises again. Finally, you need to check if price falls again, but not as far as the second trough or the the head.
Once the final trough is made, the price heads upward toward the resistance found near the top of the previous troughs in this case we are at that level now but hoped to see volume to confirm it. Investors typically enter into a long position when the price rises above the resistance of the neckline or $15.85 area in this case. The first and third trough are considered shoulders, and the second peak forms the head. If you decide to take long position, please make your stop loss at recent swing low in this case the low of the last trough at and around $14.75 area. If you need a real time alerts checkout www.2waytrading.com.
Once the final trough is made, the price heads upward toward the resistance found near the top of the previous troughs in this case we are at that level now but hoped to see volume to confirm it. Investors typically enter into a long position when the price rises above the resistance of the neckline or $15.85 area in this case. The first and third trough are considered shoulders, and the second peak forms the head. If you decide to take long position, please make your stop loss at recent swing low in this case the low of the last trough at and around $14.75 area. If you need a real time alerts checkout www.2waytrading.com.