A reverse (bullish) head and shoulders pattern formed which has about the same price target as the bull flag.
The flag was a short downtrend wich began by an oversold condition (see chart) and negative news on $DB.
The inverse (bullish) head and shoulders pattern is a reversal pattern.
Here are the calculations for both patterns:
(I used the Swiss listing, because it has greater volume and the chart is less gappy/choppy.)
The reverse head and shoulders pattern suggests a price target of 15.17 CHF (15.28 USD)
Distance top of head to neckline is 13.38 - 11.91 = 1.47
Which gives a PT of 13.70 + 1.47 = 15.17 CHF
The bull flag suggests a price target of 15.22 CHF (15.33 USD)
Height of pole is 13.66 - 11.34 = 2.32
Which gives a PT of 12.90 + 2.32 = 15.22 CHF
Incidentally Zacks recently upgraded $CS with a price target of 15 USD.
The flag was a short downtrend wich began by an oversold condition (see chart) and negative news on $DB.
The inverse (bullish) head and shoulders pattern is a reversal pattern.
Here are the calculations for both patterns:
(I used the Swiss listing, because it has greater volume and the chart is less gappy/choppy.)
The reverse head and shoulders pattern suggests a price target of 15.17 CHF (15.28 USD)
Distance top of head to neckline is 13.38 - 11.91 = 1.47
Which gives a PT of 13.70 + 1.47 = 15.17 CHF
The bull flag suggests a price target of 15.22 CHF (15.33 USD)
Height of pole is 13.66 - 11.34 = 2.32
Which gives a PT of 12.90 + 2.32 = 15.22 CHF
Incidentally Zacks recently upgraded $CS with a price target of 15 USD.
Comment:
Where I wrote "began by an oversold condition" of course I meant "began by an *overbought* condition".
