See chart - it's quite self-explanatory. Seems like a nice shoulder-head-shoulder-pattern. Technicals seems alright - let's see if this plays out as it should.
As always - for questions use the comment section down here. Good trades, folks!
It won't. Company is entering tougher times and stock is highly overvalued at current price already.
p4917
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@gatti5902 I'm rather a believer in TA and it says bullish (at the moment!). but yeah, my doubts are more that the FED f.cks up the markets again. ;)
gatti5902
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I agree. TA says bullish right now, even if on some other time frames the picture is different. The FED must be taken in account. But I look at the Company first. And when I look at it I see that the stock is largely over-priced already. All the indicators say it (P/E, PEG, P/S, P/B), etc. The divergence between fundamentals and TA is too big.
VIN786
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It is a confirmed H&S bottom on the weekly and the daily chart, which is a bullish pattern. I expect this will cross $260 within the next 30 days, if there are no negative news about this ticker.
p4917
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@VIN786, agree! Unless the FED lowers the ceiling on the stock market ...
Company is entering tougher times and stock is highly overvalued at current price already.