StoneTradingGroup
Panjang

Inverted Head and Shoulder Back-test Confirmation

LSE:PLP   POLYPIPE GROUP PLC ORD GBP0.001
Here we have a large Inverted Head and Shoulder pattern with a back-test on the yellow dashed trend line . This back-test confirmation has also created a smaller inverted head and shoulder pattern (Labelled by the blue areas) within the larger inverted right shoulder (labelled by the yellow area).

Along with this we also have possible diversions on the RSI , Stochastic and the MACD is a confirmed Diversion so far.
The two white lines show a Tasuki up-side gap and that has been filled today and I expect the bullish conditions to return, whilst the price is also bouncing off of the 9 EMA . LSE:PLP            
Worked out perfectly. Closed the trade at 338.500, just under my initial target price.
Message me if you have any questions about my chart analysis as I know it can look complicated.
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