A classic head and shoulders by the almighty Zoom. It's not unlikely that their run is coming to an end, but we could see a bit of upside before we suffer downside. I would expect a bit more reactionary price action before the main crash.
We have a textbook Head and Shoulders forming, with a consistent neckline in line with the hourly open. This has been a stock I've been following for a long time, and I've had the Head and Shoulders idea since the 24th April, or its second peak. It's very difficult to analyse stocks, as they tend to follow fundamnetals more - but I'm really confident on this one. It's not often that the H&S pattern fails, let alone reverses. We shall see how this plays out alongside the falling volume.
Be careful with this idea, as it could reverse for a second time. Place a stop loss where you can afford to take losses - I have placed a potential point of entry on the chart, but personally I will enter here - as I can afford to do so due to my level of margin. Trade responsibly. NFA
We have a textbook Head and Shoulders forming, with a consistent neckline in line with the hourly open. This has been a stock I've been following for a long time, and I've had the Head and Shoulders idea since the 24th April, or its second peak. It's very difficult to analyse stocks, as they tend to follow fundamnetals more - but I'm really confident on this one. It's not often that the H&S pattern fails, let alone reverses. We shall see how this plays out alongside the falling volume.
Be careful with this idea, as it could reverse for a second time. Place a stop loss where you can afford to take losses - I have placed a potential point of entry on the chart, but personally I will enter here - as I can afford to do so due to my level of margin. Trade responsibly. NFA
Trade active:
Starting to reach our entry point here. Maybe now is a good time to start preparing to buy in!
Comment:
It seems as if my initial thesis about price action is correct. I would not worry too much, and I'm still confident on my position. Maybe wait until a confirmation is given.