I reported earlier in the month that A2 Milk was showing a good formation of a head and shoulders pattern.
This week we had a confirmed breakout of the neckline, here is my complete analysis.
If you enjoyed this idea, please subscribe for more technical analysis in the future.
Disclaimer - This in not financial advise and may not fit your financial needs, do you own analysis before investing any of your money or seek advice from a qualified financial advisor.
This week we had a confirmed breakout of the neckline, here is my complete analysis.
- Price has fallen and closed below 30EMA (weekly).
- Price has fallen and closed below 200EMA (daily).
- CCI indicator(daily) is reading 222, which is a sign of strength to the downside.
- Mansfield Relative Strength (XAO)(daily) is below zero showing A2M is under performing the All Ords.
- Price has closed below Neckline of Head and shoulder pattern for 2 periods (confirmation).
- Target price on the down side is roughly $10.7, using a 30EMA weekly as exit once price closes below on weekly time frame.
If you enjoyed this idea, please subscribe for more technical analysis in the future.
Disclaimer - This in not financial advise and may not fit your financial needs, do you own analysis before investing any of your money or seek advice from a qualified financial advisor.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.