Will this Megaphone Be a Good Study?

88 0 2
A megaphone top is not only rare to detect but hard to find, and is very rare formation which usually happens when price fluctuates..a kind of out of control. In other terms, you may hear it being called broadening top. This is a bearish pattern and its shape is opposite of that of a symmetrical triangle which is very common and easy to find. Here in this stock as you can see from Feb there was a price recovery from from last October's top, at 61.8% price met a stiff resistance which forced many bottom fishers to book profit..the decline was not scary, and only printed higher low before it resumed upside move..First higher high followed by higher high. If you draw a few lines to see three subsequent highs followed by to decisive lows which fall the category of megaphone top, One of main leading factor of this bearish happens once price prints a new 2 years high or all time high for that matter. Although RSI is at 30 which in some cases suggest the bottom near, it can even be a signal for further sell off. If you decide to take a position make your stop loss at recent swing high $74 area with target price $55-$57. If you like this follow us..expect more to come and stay tuned.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out