SIRI Trying to Form an Inverse Head and Shoulders

3 dic 2018

SIRI might be trying to form an inverse head and shoulders pattern with 6:38 as the neckline. This 6.38 area also served as resistance earlier this year. If price breaks through the neckline on increased volume, one might look for a target of 7.20, about a 12% increase as implied by the height of the head. Good luck; have fun.

4 dic 2018

Nota

SIRI kissed the 6.38 level exactly at it's high on this overall awful day for US markets.

11 dic 2018

Nota

There appears to be a mini inverse H&S forming in the right shoulder of the main H&S with a neckline of 6.38.

12 dic 2018

Nota

I really thought today was going to be the day that SIRI closes above the neckline and triggers a buy signal. It tried but failed and volume was average.

14 dic 2018

Nota

It appears that the two H&S patterns have proven invalid. We still have a rising wedge with resistance at 6.38 though.

20 dic 2018

Nota

So much for the wedge and two H&S patterns. SIRI became a short when it broke through the ascending wedge. Reasonable target would be the bottom of the large head. I'm sitting this out still.