Price is currently sitting above the middle of a large up channel. This is preceded by a large inverted H&S pattern. I expect the middle to act as support and price to move upward as indicated by the bars pattern.
This stock has been in a steady uptrend since Feb 2021. It is also attempting to break all time high $73.05 on 10 May. Uptrend still intact, support at $68.50 or $66.
AOS is running within a channel formation & now challenging its channel resistance. It also seems shaping a H&S formation. We think it has good downside potential from current level. To Play this we would consider $65 July puts ($2.95) * Trade Criteria * Date First Found- February 22, 2018 Pattern/Why- Upward channel; H&S formation Entry Criteria- From...
AOS is running within a channel formation & now challenging its channel resistance. It also seems shaping a H&S formation. We think it has good downside potential from current level. To Play this we would consider $65 July puts ($2.95) * Trade Criteria * Date First Found- February 22, 2018 Pattern/Why- Upward channel; H&S formation Entry Criteria- From...