KHC - Inverted Head and Shoulders
Quick update on KHC idea. The stock still goes through accumulation phase. Accumulation takes lots of time and it is better to switch to weekly TF from daily to see the progress. On weekly TF I see the inverted head and shoulder pattern showing up, allowing us to project targets if it plays out and breaks neckline. Weekly 50 Simple Moving Average is also at a neckline level right now providing resistance. It needs to be broken to confirm bigger rally.
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