Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
We have watched this chart for weeks as the H&S formed, and now, we see a rupture of the neckline shown by the dark blue lines opening up a target number of 22-ish for the weeks and months ahead. A back kiss is in order, the money flow and stochastics remain somewhat agreeable to at least some sideways price moderation now but the overall weakness will resume. The negative divergence top in April was an easy call. Last few months was a sideways 33-39 range that failed out the bottom this week. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links associated with this site. Consult your financial advisor before making any investment decision.
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