The left shoulder has reached the top and at the same level as the right shoulder which is a good sign for a Shoulder-Head-Shoulder pattern.
The MACD and RSI look to still be strong so I have a feeling that we will see a RETEST of the R22 resistance and then maybe a drop or it could start the downtrend immediately.
Just watch it over the coming days as the SHS...
Looks like we have a confirmed SHS on MCS, keep an eye on it.
MCS might begin the reversal or might do a retest and then dropdown.
The MACD indicator is negative and we have a downtrend on the RSI.
Let me know what you think and remember this is not financial advice
Could it be a possible Inverted Head and Shoulders forming on AMCR?
We have a strong neckline and the MACD Indicator made a negative move which can be a signal to complete the downtrend on the right shoulder.
Let me know what you think and remember this is not financial advice.
A Inverted Bullish Hammer has formed on CFR, but could this play out for the long run?
The MACD is still negative and RSI is also a bit low on the daily chart, but the Bolinger Bands seems to be getting closer to each other so let's see what happens today.
Let me know your thoughts and remember this is not financial advice.
Is it a possible SHOULDER-HEAD-SHOULDER forming?
The MACD very close to make a positive move which can be a signal to complete the shoulder on the right.
We might see a downtrend at the end of our second shoulder or maybe a retest and then a downtrend.
I am not sure where the reversal might end, but wherever it ends it could be a good buy in opportunity.