Post by icemandios on Apr 6, 2017 3:43:54 GMT
Red line is the 200EMA and probable first target.
8.61-ish would have been a good place to stop and bounce.
The chart looks like a H&S top. It only differs from the textbook, old school description in the fact that the volume pattern is not classic.
However, the MACDH 5-20-9 couldn't be more telling.
Notice the lower peaks of the MACDH in the construction of the H&S. And, the fact that the MACDH is above the centerline just a bit is not good news considering that, if it goes below the center line, it will mean that price is lower still.
Maybe those two directors had a reason to cash in their long-dated options and sell them?
