$CMG May be Forming a Head & Shoulders Pattern

21 thg 4, 2015

This is a great what if situation. CMG is way overbought, diverging strongly on the weekly, and at this point looks to be forming a head and shoulders pattern. If we break the neckline at $605 and the uptrend line the first target area is going to be $470-$500 where we have prior support and the 200 ema on the weekly. Depending on market conditions at that point this could also be a good spot to go to long.