The_Patterns_Guy
Short

#OI #stock #short

NYSE:OI   O-I GLASS INC
OI has formed a nice H&S . Indicators support it and so does the trend. I would really encourage you to scroll up the timeframe charts. This stock looks like it could get locked into a bearish downturn for a very long time with some fun gyrations. Overall score is a 10, so this will go to the top of the options shopping list.

Weekly
there is a large H&S with two out of three indicators supporting ( MACD & Stoch RSI )

Monthly
the H&S can be seen on the monthly chart and so to can a large declining triangle. indicators are supportive.

trading pattern criteria
confirmed pattern 1
pattern confirms trend or confirms broken trend 1
pattern is syemtrical 1
pattern leans in the direction of the move 1
stoch RSI confirms  1
macd confirms 1
obv confirms 1
pattern confirms on 1 higher time frame chart 1
pattern confirms on 2 higher time frame chart 1
pattern confirms on 1 lower time frame chart 1
Total score 10

Comments

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