UNH: Complex Bearish Head & Shoulders /Hidden Bearish DivergenceUnitedHealth Group has formed this Complex Head and Shoulders pattern on the weekly time frame and has formed two layers of MACD Hidden Bearish Divergence. The most recent action we got on this stock was a weekly bearish engulfing candle, and now we're expected to see it come down at least to about $300, which would be very bad for the Dow Jones Industrial Average as UNH is the top weighted holding of the index.
Complexheadandshoulders
ADVANC | Elliott Wave Projection | Complex Inverted H & SPrice action and chart pattern trading
> Elliott Wave projection possible the end of Intermediate 4-wave downtrend
> Complex inverted head & shoulders formation ABC uptrend correction
> Bullish divergence in previous 5-wave downtrend confirmation
> Entry @ neckline breakout - RSI downtrend breakout
> Target @ C-wave uptrend 1.618 extension of A-wave near volume profile POC
> Stoploss @ B-wave right shoulder
> RRR: 2:1
Always trade with affordable risk and respect your stop
inverse head and double shoulder pattern speculationgoogle the complex head shoulder pattern
the inverse head and shoulder failed to break out the diagonal resistance and dropping right now
but there is a case for that, it happens when there is 2 shoulder on the left side of HS pattern
so the HS pattern is not invalidated yet, it just turns into a complex or variation one
the first step IMO watch out bull reversal at 175x or 172x and be prepared when gold is above 1843
but don't gamble because there is a bearish signal if 172x support broken
note: I only find this double shoulder pattern on Bulkowski pattern book called complex head and shoulder pattern
this is a good pattern with the target to double top 2070 as target
thepatternsite.com
SUNTV - Complex Bullish H&S pattern - Swing TradeThe above analysis is done purely on basis of Price Action & Chart Patterns.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets. The final target is more than 50% from current price hence it may take even few months to reach that price level. Traders must keep this in mind while entering into the trade.
Trade setup is explained in image itself. SUNTV was also analysed few weeks ago, check out the analysis linked below
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.
Feel Free to comment or message me for any query or suggestion regarding this stock or Price Action Analysis.
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups.