cantestogo
Short

SCTY - SOLARCITY CORP BREAKOUT ON H&S PATTERN

NASDAQ:SCTY   SOLARCITY CORP
240 3 3
This is an update for a previous chart that i posted 4 months ago, predicting an head and shoulders pattern (link:
Possibilities for shorting
) . At this point the pattern seems completed and we are at neckline level. So i'm expecting a breakout with a measured move that can bring the security to the 0.764 fib line level. In the same level there is a possible support, otherwise if the selling pressure is high it can go even lower. If the neckline holds as a support, a possible leg up can target to the descending black trendline .
Good luck for your trading
I agree ... based on previous high to low Fib-levels I see the same trajectory. With that being said, I like your cleaner/simpler chart better than mine. Here is my perspective on it:

snapshot


PS. The green line is based on Tim West's EPS price support/resistance levels.
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ExcitingTechnology PRO ExcitingTechnology
Btw, I'm probably not using the Fib tool correctly but it seems to kinda work here so I decided to give it a try.
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cantestogo ExcitingTechnology
Thanks! interesting channel. I'm focused more in the general trend in a larger timeframe, so i paid attention to shorter timeframes only for more confermations. Not sure if you are using fib lines for retracement or for extension.
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