HOOD 20 % drop - Head and Shoulders
On 18 of July 2022 the price managed to broke out above the downsloping resistance line and since then we saw some upside.
- Now the price is forming the Head and Shoulders pattern.
- We expect the formation to break down in the next days. However it may take a few days to form the right shoulder which may be a little bit extended.
-The target would be at 7 $ which would be a result of a 20 % drop.
After that we expect the price to create a higher low.
- If the price breaks below previous all time low, new lows are coming.
Good luck
- Now the price is forming the Head and Shoulders pattern.
- We expect the formation to break down in the next days. However it may take a few days to form the right shoulder which may be a little bit extended.
-The target would be at 7 $ which would be a result of a 20 % drop.
After that we expect the price to create a higher low.
- If the price breaks below previous all time low, new lows are coming.
Good luck
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