Hathway - Inverse/Reverse Head and Shoulder

3 thg 8, 2024

CMP - 23
TGT - 42

⚡️Disclaimer: Any of my posts should not be considered as a Buy/Sell/Hold recommendation. This analysis is for educational and learning purpose only⚡️

Description:
Reverse head and shoulders chart pattern is a bullish chart which signals a potential reversal of a downtrend. It is the opposite of the head and shoulders chart pattern (which is a bearish formation)

The reverse head and shoulders chart pattern consists of three (3) troughs (u-like chart formation):

1) The first is identified as Left Shoulder
2) The second and deepest is called Head
3) The Third is called Right Shoulder
4) Neckline is the zone where the price has hit a resistance and corrected multiple times (as seen in the chart)

Target Measurement: Draw price range from the lowest point of the Head to the Neckline and place it at the neckline. (the points measured in the depth is target from the neckline)