The Power of a SHS compared with a Trendbreak and a flag
former Analysis: GWPH with
The break of the neckline let the price drop to its trendchannel bottom edge. At this niveau, a consolidation between 110,75 - 116 started. This is the neutral Zone.
GWPH is forming a .
This results in two tradingmarks (yellow arrows) :
Short trigger: 110,5 - TP 121,5 (trendchannels upper edge)
Long trigger: 116,5 - TP 101,5 (target of the flag and the max. target of the head-shoulder-Formation.
Target reached! TP @ 112$ - the min target of the mentioned shs is reached today. Today we kissed the trendchannels lower edge so i exspect a little rebound before TP will be aimed....The possible target of a rebound could be the 38,2 or 0,5 fibo-retracement @ 118,5/ 121 - lets see.
On its way up again The shs has not be confirmed up to now.
Prices above the "right shoulder" should generate an new buying-Signal with TP1 @ ATH .
At the ATH-level i exspect a little consolidation before the ATH will fall.
If GWPH can Close the days above ist ATH , that generates a new cyclical target @ 143-147$
GWPH with ? GWPH is forming a @ the .
A Close above the right shoulder generates a shortterm target @ ATH
A Close below the neckline @ 117,75 generates a Minimum target @ 111$ / maximal target @ 103,5$
Consolidation started? The middle-term Long-tradechannel has to be discussed.
-A dip to the old breakout-Level @ former ATH 111,5$ has to be exspected, when GWPH Closes below 117.
-A Close below 111/103 generates a sellingsignal with target @ longterm uppertrend bottom-edge @ 88,5
Through the years i took distance from trading with indicators. I prefer Trends and classical Chart Patterns, We will see. My mentioned Rebound is a very shortterm view, not sustainable...