Weekly Chart :
The time will tell, but meanwhile the chart tells us that the odds pointing to huge Reversal Pattern.
Multiple Head and Shoulders contains several shoulders, in our case 3 from each side.
Note the huge volume spike in the Head.
Note the inner Neckline and the Outer Neckline.
Short trades will be taken when the price will break down the outer line by a range that equal to 3% from the price at the moment.
If the breakout will carry Peakup in volume, it is more safe to wait for retest on the lines and then take the trade.
The first Target is 250.
Good Luck!
The time will tell, but meanwhile the chart tells us that the odds pointing to huge Reversal Pattern.
Multiple Head and Shoulders contains several shoulders, in our case 3 from each side.
Note the huge volume spike in the Head.
Note the inner Neckline and the Outer Neckline.
Short trades will be taken when the price will break down the outer line by a range that equal to 3% from the price at the moment.
If the breakout will carry Peakup in volume, it is more safe to wait for retest on the lines and then take the trade.
The first Target is 250.
Good Luck!