An example of Inverted Head and Shoulders pattern
NSE:CAREERP CAREER POINT LTD
Inverted head and shoulders pattern is very common reversal pattern. After a downside or a range bound structure this pattern can be fruitful. Basically the targets are same as the depth of the Head. Head is the middle portion followed by a shoulder on each side. There is a neckline connecting all the points. Here the neckline comes around 180. The stock made a low around 50-60 so to calculate the target we'll do (180-60)=120 points. And that comes around 180+120=300. Lets hope that this setup works. It may take some time though. For Stop loss one can place it below swing low.