MyState (MYS) has just put together a series of positive days with Friday's gain of over 5% being the icing on the cake. However, we shouldn't be that surprised as MYS has never recorded a negative move over the last 10 trading days of August. Perhaps this unblemished track record is a by-product of the full-year earnings effect, otherwise, MYS is just...
Weekly shows a clear inverted H&S pattern. Watch for a break and retest...may not have a retest due to the strong consolidation around the neckline
With an inverted H & S that is poised on the neckline, it is worth adding to the watchlist. The right shoulder is higher than the left which is always a good sign. But remember to wait for a break of the neckline & a retestto confirm the price action. Pick high probability trades rather than small parcels of all that look good
Please wait for a break and retest of the neckline. The inverted H & S pattern is a fragile pattern that does not necessarily yield the correct result.