Bullish inverted H&S pattern. Likely to retrace to 72/89 EMA cloud range (red cloud) before bouncing back to retest ~400. Definitely a prediction at this point. Need a right shoulder to form more to get a high conviction.
Commento:
Make or break at this point. Either it respects the 72/89 EMA cloud (red cloud) and rebounds or it will succumb to my latest point around a head and shoulders pattern.
Commento:
Still hanging on. Testing that 72/89 EMA. Will need to close green this week if it wants a chance.
Commento:
Still hanging on at the moment. Right shoulder chart drawing is too shallow and tight but concept is still valid. The big question is whether or not the massive $NFLX miss today will trigger lower lows to invalidate this pattern. Rest of this week and next will give us some good leading indication on what is next.
Commento:
This looks to be failed at this point unless we have a spectacular rally on Monday (highly doubtful). As the price moves below the 72/89 EMA, we should expect many more lower lows and increased volatility.
Commento:
Failed! It was an interesting idea but marking this as fully failed as an IH&S pattern.