BERY - Possible H&S formation short from $48 to $42.88
Updated
BERY seems forming a head & shoulder formation. A break of $48 will be the breakout confirmation.
We think it can decline down to $43 area.
* Trade Criteria *
Date first found- March 21, 2017
Pattern/Why- Possible head & shoulder formation
Entry Target Criteria- $48
Exit Target Criteria- Target 1 45.13 Target 2 42.88
Stop Loss Criteria- $51.03
Please check back for Trade updates. (Note: Trade update is little delayed here.)
We think it can decline down to $43 area.
* Trade Criteria *
Date first found- March 21, 2017
Pattern/Why- Possible head & shoulder formation
Entry Target Criteria- $48
Exit Target Criteria- Target 1 45.13 Target 2 42.88
Stop Loss Criteria- $51.03
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
March 24th - Traded down & hit entry price today. Now wait & see.Note
March 27th - Very nice decline & made a lower low. Looking very good as short.Note
March 29th - Holding below EMA lines, wait & see situation.Note
April 4th- nice move down on good volume, this is looking good to continueNote
April 12th- rallied into horizontal resistance and held below it. Tightening our stop loss criteria to $50.43
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