In the above weekly chart of Snowman Logistics 
SNOWMAN, we can see H&S (Head and Shoulders) pattern formation over a period of nearly 7 years and now it has broken out from the pattern. Re-test of the neckline also seem to have been done in last few weeks and neckline provided good support.
If we measure the height of pattern, it points to 112 levels which also happen to be very near to next major resistance of 114. It’s currently trading around 80 so this breakout might offer a potential upside of 60% in next few months.
On the flip side, if the stock goes back below neckline and sustains there for couple of days then this view is invalidated.
SNOWMAN, we can see H&S (Head and Shoulders) pattern formation over a period of nearly 7 years and now it has broken out from the pattern. Re-test of the neckline also seem to have been done in last few weeks and neckline provided good support.If we measure the height of pattern, it points to 112 levels which also happen to be very near to next major resistance of 114. It’s currently trading around 80 so this breakout might offer a potential upside of 60% in next few months.
On the flip side, if the stock goes back below neckline and sustains there for couple of days then this view is invalidated.
True Wave Scanner - scanner.elliottwavestrading.com
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True Wave Scanner - scanner.elliottwavestrading.com
相关出版物
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。