H&S Reversal Formation in Progress
This is one massive H&S reversal formation that could possibly lead this stock into a bloodbath. I decided to enter put positions before close today as it was retesting that resistance level last three days. Next target is at around $116 area which is the H&S reversal formation neckline. H&S is not confirmed until we break below this neckline level so for now we are in the process of the possibility. H&S measured move comes to about $95 and that’s about $25 drop! But again H&S is not confirmed until we break below the neckline.
Make it Rain
Target price: $95ish if neckline broken. Let’s see if we can get there. Stay tuned.