The stock is forming Inverse Head & Shoulder and is approaching to give breakout. One can put it in their watch list and take timely action accordingly.
cool!. ALso it right on the edge of the falling wedge. I was tempted to BTST but it didnt close above the wedge line. I should have anyways but oh well,Lets see.
praveen.bhatiya
⋅
@Einstein15, Thomas Bulkowski in his book "Encyclopedia Of Chart Patterns" has mentioned that the wedge seldom last over 4 or 5 months, however the upper line is significant and its breakout could offer trading opportunity. Thanks for your reply.
Einstein15
⋅
@Praveen.bhatiya, Wow! Its awesome when a reply start with such a reference.+1 for that. ALso reminds me of one of the reply by Christopher Hitchins and it goes like..." ..Socrates answered it like this when he was on the trial for his life...... " and you know what follows wud be amazing :D
Thanks for the info though. But since that wedge,,( well its more of a channel ,sorta) is bouncing the price from both sides for months, it still shouldnt be considered as a wedge and just a fluke?