GE Weekly View - Potential Inverse Head and Shoulders
most of my notes and thoughts are on the chart
- 3 major moves to the down side, with what appears to be a iHnS potential taking shape
--Need to see much more volume (buying) to confirm with better probability that this pattern pans out
---low volume with price increase would indicate weakness imho
- IF, this were a legitimate inverse HnS and the pattern completed:
--Target of ~$300.00 as indicated by blue horizontal trendline
--*a more conservative target of ~$195 could be made and the higher target could fail due to resistance at yellow trendline
**(marked by the yellow X and the 2nd yellow X near $195)
*Note the time frame of this trade....several years to see in totality. This is something to just keep an eye on for longer term investment
this is not financial advice, simply notes on what i see and should be used for observation/education only
- 3 major moves to the down side, with what appears to be a iHnS potential taking shape
--Need to see much more volume (buying) to confirm with better probability that this pattern pans out
---low volume with price increase would indicate weakness imho
- IF, this were a legitimate inverse HnS and the pattern completed:
--Target of ~$300.00 as indicated by blue horizontal trendline
--*a more conservative target of ~$195 could be made and the higher target could fail due to resistance at yellow trendline
**(marked by the yellow X and the 2nd yellow X near $195)
*Note the time frame of this trade....several years to see in totality. This is something to just keep an eye on for longer term investment
this is not financial advice, simply notes on what i see and should be used for observation/education only
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