CHS - H&S formation Short from $12.96/13.34 to $9.57

CHS seems forming a H&S formation in weekly frame and in the daily frame it is breaking down all the MA lines & strong support labels. We think it will decile from here down to $9.50 area.

* Trade Criteria *
Date first found- April 4, 2017
Pattern/Why- H&S formation
Entry Target Criteria- break of $12.96 or bounce to $13.34
Exit Target Criteria- Target 1- $10.14 Target 2- $9.57
Stop Loss Criteria- $14.07

Please check back for Trade updates. (Note: Trade update is little delayed here.)

Trade active:

April 5th- Very nice decline hitting breakdown entry price. Looking very good as short.

Comment:

April 11th - Went up & closed above EMA lines, but holding below stop loss criteria Now wait & see.