NYSE:UA   UNDER ARMOUR INC
118 7 1
Little double bottom confirmed
Ghostrider7
2 years ago
It also held the UTL from May. If it reaches your MM then it will trigger an I H&S pattern...
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KLang PRO Ghostrider7
2 years ago
That's not an IHS
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Ghostrider7
2 years ago
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.
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KLang PRO Ghostrider7
2 years ago
It's not. If anything, it's a large cup and handle.
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Ghostrider7 KLang
2 years ago
I respect your opinion, but can you please explain why?
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KLang PRO Ghostrider7
2 years ago
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.
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Ghostrider7 KLang
2 years ago
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!
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