CRSP had an bearish H&S formation earlier which saw it fell to a low of $100 on 5 March. It then traded in a wide sideway range of 106-137 for most of the next 7 weeks and eventually an Adam and Eve pattern has emerged.
The Adam & Eve ((A&E) is variation of the "double bottom" formation. The neckline is currently at 137. As soon as it started trading above 137, we could see a sustainable move to the eventual A&E target of about $174, which incidentally is also the 62% fib retracement up of the recent swing down.
I would place an initial Stop Loss just below $123 and move this stop up should the trade goes to at least $145.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
The Adam & Eve ((A&E) is variation of the "double bottom" formation. The neckline is currently at 137. As soon as it started trading above 137, we could see a sustainable move to the eventual A&E target of about $174, which incidentally is also the 62% fib retracement up of the recent swing down.
I would place an initial Stop Loss just below $123 and move this stop up should the trade goes to at least $145.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.