Beautiful classic head and shoulders pattern on $CY Daily / 4 Hour chart. Price action broke out strongly and looks to be headed to its $15 target area. RSI is strong and price action closed at $14. We have a high probability setup that we can take advantage of. I'm in at $13.80.
1. Curious to see how CY handles early TSI signals in the downward direction
2. So far upward CY shifts have been preempted by TSI divergence
3. Will it hold for negative divergence?
4. Overall love the stock.
In Recovery From Head And Shoulder Pattern. Good momentum moving back up, should open and continue up to the 200DMA (Blue Line). Good opportunity to Gap up and over Tuesday morning if it stalls There EOD Monday.
In my opinion, CY-Cypress Semiconductor-is breaking out to the upside.
From a technical standpoint, Here are the positives for-CY:
1. Currently multiple buy Fractals.
2. The top upper indicator is a 5/34 oscillator, and this is positive. Very strong.
3. The alligator is feeding in the uptrend. A very strong uptrend.
4. Prices are trading above the Ichimoku Cloud ...