WKHS - possible inverted head and shoulders - SPECULATION
Updated
NOT FINANCIAL ADVICE
Obviously, they are seeing tons of attention from different online communities, Chart explains the technical basis for targets and graphically shows a nice crayon chart. I am NOT trading this as I don't personally see the fundamental benefit with the USPS contract not currently being there. If I was trading this I would look for a good 4hr close above the neckline, then try to buy a retest as close to the neckline as possible, then run a tight trailing stop to take the guessing out of when to exit and let the stop me out in profit. I don't recommend taking a trade solely based on any pattern. People who are in WKHS may want to take some profit if WSB is able to get it over $25 in the short term as it will likely correct soon after.
NOT FINANCIAL ADVICE
Obviously, they are seeing tons of attention from different online communities, Chart explains the technical basis for targets and graphically shows a nice crayon chart. I am NOT trading this as I don't personally see the fundamental benefit with the USPS contract not currently being there. If I was trading this I would look for a good 4hr close above the neckline, then try to buy a retest as close to the neckline as possible, then run a tight trailing stop to take the guessing out of when to exit and let the stop me out in profit. I don't recommend taking a trade solely based on any pattern. People who are in WKHS may want to take some profit if WSB is able to get it over $25 in the short term as it will likely correct soon after.
NOT FINANCIAL ADVICE
Note
Make or break level for this idea.Order cancelled
As stated, the entry would be a strong close above neckline but that didn't happen and starting to go the other way, beyond return for this idea.
Related publications
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.