Union Bank- Inverted Head & Shoulder or Kilroy Above 155

Nov 14, 2016

A sustained move above 155 likely will give inverted head & shoulder pattern-giving us target zone of 200-210 which is the vertical distance measured from 104 lows (Head- start) to neckline & projecting that distance above the neckline.

Nov 16, 2016

Trade active

08:24 Hrs 16th Nov2016

Last Price@148

Likely a gap here as well to activate Kilroy pattern but look for neckline which was acting as resistance could act as good support & a re-entry point for taking longs.

Trade with caution

Nov 18, 2016

Trade active

11:00 Hrs 18th Nov2016

Last Price157

Had Union Bank started its Up Move

Nov 21, 2016

Trade active

17:04 Hrs 21st Nov2016

Closed@149

Neckline should support UB

Nov 23, 2016

Trade active

10:31 Hrs 23rd Nov2016

Last Price147

After breaking neckline it went up & now dropped again on neckline. Likely neckline should act as support -if it fails to support-then we should be careful in long or buy positions.