This was originally on my long entry wait-list and the two bottom white lines are my entry levels for a long but I am shorting this for now , I think it can come down some in the meantime . I decided to keep the long entry plan on the same chart hope it's clear .
If we get a long entry opportunity in the future on the long side i'll publish a separate Long idea...
NASDAQ:TILE
I love this company but cannot help seeing H&S pattern which also breaks down to double top on a D frame
WHY
- H&S pattern on W
- divergence on indicators
- bouncing off all time resistance at 26
- some chart inconsistency (price failed to make a new high having stopped at 26 ) and double top on D (price travelled to 26.25)
HOW
- a lot of shorting...
This is a intraday alert sent out to our subscribers-
TILE seems breaking down from a H&S formation. It appears to be breaking down its right shoulder.
We think it will be a good short from here.
