TechM looks like Head and shoulder in formation!
This chart presents a classic Head and Shoulders scenario, which traders should watch closely for confirmation. If the right shoulder forms and the price breaks below the neckline, it could signal the start of a bearish trend, providing an opportunity for short sellers. On the other hand, if the price breaks out above the current resistance, the bullish trend could continue.
In essence, traders should be prepared for both outcomes by monitoring price action around the neckline and key resistance levels while also factoring in volume and other indicators to confirm the pattern's validity.
In essence, traders should be prepared for both outcomes by monitoring price action around the neckline and key resistance levels while also factoring in volume and other indicators to confirm the pattern's validity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.