Starting with the the general stuff:
1. There are three major structure zones I see in the chart (naturaly there are other, but the ones I mention here could be also targets for the different scenarios I'll mention below): 18$, 22$ and 25$
2. Two in play in my scenarios: Broken Uptrend line (green dashed line) & Broken downtrend line (red dashed line)
3. SMA's positions - Price is above the weekly 200 line and below the Fast and 50 lines
Weekly pattern has been triggered when the price crossed and closed below the weekly uptrend line, which was also the neck line for the pattern.
The next move in this scenario is a move towards the 18$ zone, which is the target level.
Price must break below the weekly 200 line and if it will do so, it will be possible to place stop loss above 22-23$.
- pattern will complete right on the 200 line and the strong 21-22$ .
In this scenario, the potential target is the 25$ structure zone (RESISTANCE NOW) which will also be near the 61.8 Fib retracement level for the latest move.
I order to set stop loss here it is also possible to use the weekly 200 line that should be proven as support in this scenario.
Good luck to all the traders who are going to trade $SYMC and remember that involve high risk.
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