Interesting ECHO #HeadAndShoulder Bottom #Breakout on Weekly
The weekly breakout took out the neckline of the head and shoulder bottom as well as the downtrend line. The pattern is very interesting but the strong resistance at $26 makes it a less desirable trade setup. I think you are going to need a ton of buying pressure to cut through all that supply around that level. Company reports earning on the 23rd. Will be curious to see what happens then.
✔ Momentum & Breakout Trader Since 2006 | Influenced by Mark Minervini VCP Trading Style & William O'Neil CANSLIM 📈
✔ Follow me on Twitter @taplot - twitter.com/TaPlot
✔ YouTube channel youtube.com/@taplot
✔ Follow me on Twitter @taplot - twitter.com/TaPlot
✔ YouTube channel youtube.com/@taplot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.