NYSE:UA   UNDER ARMOUR INC CLASS C
118 7 2
Little double bottom confirmed
9/8/14 PH (73.42) - 11/28/14 PH (72.98) would be your NL I agree it's not the cleanest, but still could work imho.
Reply
KLang PRO Ghostrider7
It's not. If anything, it's a large cup and handle.
Reply
I respect your opinion, but can you please explain why?
Reply
KLang PRO Ghostrider7
1st reason is IHS is a bottoming/reversal pattern. It does not occur at the top of a trend. I've seen them from time to time, but they were PERFECT formations. People love to call things IHS which are not. It's a bad habit. Second reason is the formation is beyond sloppy. It could be a cup and handle which is a CONTINUATION pattern. It's a consolidation within an uptrend.
Reply
I agree that MOST IHS reversal patterns are at the bottom or in the middle and not at the top, but I have seen them work. This stock had a decent pullback off the highs and therefore does raise the odds of working. Yes it is on the sloppy side and not the cleanest as mentioned. Maybe I should have said potential "IHS type" continuation pattern. Maybe that would have been more appropriate. Thank you for the feedback!
Reply
It also held the UTL from May. If it reaches your MM then it will trigger an I H&S pattern...
Reply
KLang PRO Ghostrider7
That's not an IHS
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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 Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out