ShakeShakeLeg
Long

Vaneck Head and Shoulders Pattern

NASDAQ:SMH   VANECK VECTORS ETF TRUST
What I see...
+ Prices broke through the H&S neckline last weed but pulled back to 10ma forming a hammer bofore bouncing back to a blue bar today, on good vol., to confirm the reversal pattern
+ MACD is bullish
+ RSI is at 57.7
+ Bollinger is narrowing

- Upper shadows
- Closing price a bit far away from the 10ma
- First Resistance at $151

What I setup...
+ Long entry above today's high
- Stop at bottom of hammer
+ Target at late Feb. high
:: Duration - 3 to 8 sessions

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Trade closed: stop reached: Stop reached; +1.62R

Comments

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