CRSP had an bearish H&S formation earlier which saw it fell to a low of $100 on 5 March. It then traded in a wide sideway range of 106-137 for most of the next 7 weeks and eventually an Adam and Eve pattern has emerged.
The Adam & Eve ((A&E) is variation of the "double bottom" formation. The neckline is currently at 137. As soon as it started trading above 137, we could see a sustainable move to the eventual A&E target of about $174, which incidentally is also the 62% fib retracement up of the recent swing down.
I would place an initial Stop Loss just below $123 and move this stop up should the trade goes to at least $145.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
The Adam & Eve ((A&E) is variation of the "double bottom" formation. The neckline is currently at 137. As soon as it started trading above 137, we could see a sustainable move to the eventual A&E target of about $174, which incidentally is also the 62% fib retracement up of the recent swing down.
I would place an initial Stop Loss just below $123 and move this stop up should the trade goes to at least $145.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.