Head and ShouldersHead and shoulder tops do not always reach the down targets in a bull market. The inverse head and shoulders performs much better in a bull market, vice versa for a bear market.
SPOT has passed the neckline which would have been former support before that support was breeched.
I drew green dashed lines where I see support, but you may see it elsewhere. When a security is doing this, going down, I watch the support levels and wait for a breech of that level if it occurs, then I set an alert for the next level.
On the bearish side: There was a death cross a while back and the 50 SMA crossed down through the 200 SMA. Price is still under the 50 which many consider bearish. The 4 moving averages I used are all sloping down and opposite of where they need to be. The 20 is on bottom and the 200 is on top.
I do see a large volume bar recently.
Many consider the first warning sign to possibly sell is when price goes under the 50. The second is when a death cross occurs.
Surprisingly, short interest is lower than I thought it would be at around 4% depending on where you look. Possible targets down are in orange down below, but as I mentioned, H&S do not always hit down targets in a bull market.
No recommendation
