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.
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!