Entry - $36 - $39
Target - $44+ (Could be the start of new bull trend)
Stop Loss - $32.50 (Failure of head and shoulders would result in continuation of bear trend and probably a significant drop)
Reasons to buy:
Volume increase and falling price on left shoulder
Volume decrease and price gains
Volume increase and falling price on head but heavy volume
Volume INCREASE on price gain on heavy volume (Note volume is now gaining on higher prices rather then reversing)
Volume DECREASE on falling price (More bullish)
Volume will increase causing prices to increase above neckline
And a new bull trend will start.
CLF Head and Shoulders
Load the boat!
Target - $44+ (Could be the start of new bull trend)
Stop Loss - $32.50 (Failure of head and shoulders would result in continuation of bear trend and probably a significant drop)
Reasons to buy:
Volume increase and falling price on left shoulder
Volume decrease and price gains
Volume increase and falling price on head but heavy volume
Volume INCREASE on price gain on heavy volume (Note volume is now gaining on higher prices rather then reversing)
Volume DECREASE on falling price (More bullish)
Volume will increase causing prices to increase above neckline
And a new bull trend will start.
CLF Head and Shoulders
Load the boat!