CEAT , after a big head, it bounced off the year long neckline,to make the possible right shoulder at different sup/resistance lines.. Awaiting for a breakout/reversal
similar head and shoulder pattern happened oct 2015 to aug 2016.
AJAYSHARMA
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For once .. I beg to disagree. The shoulder is too small . Regards
Einstein15
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@AJAYSHARMA, True, the right shoulder is small, but as i said its in the making. Currently it is as high as the left shoulder, where that level was tested a couple times whichs makes its a good sup/resistance level, where one can expect some reaction.
BUt again, it can decide to break thru it and make a bigger shoulder like the dotted projection, which is as big as the left shoulder.
Thanks
divyankG
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you deserve extra likes for neat and clean handrighting sir. :)