H&S with some reservations- A H&S is almost complete
- Do note that the right shoulder is slightly higher than the left shoulder
- The right bottom is higher than the left bottom, which forms an up-tilting neckline
- Could these be interpreted as bullish bias?
- Volume is in an overall downtrend
- Muddy Waters Research published a report on $TAL. You can download the report here: www.muddywatersresearch.com
- The report came out in 2018, and it's unclear whether Muddy Waters is still shorting it
- There's an increase in puts volume over this weekend
- Could this be the $LK of education?
TAL/N trade ideas
TAL: Continued bearish thesis, downward parallel channel In August , TAL formed head and shoulders, which I thought should result in a breakout upwards. But that has failed.
In September , TAL dropped to fib 61.8 level, and support at 200EMA. At that time, the thesis has turned bearish.
As of today in October, short thesis has remained true.
As expected, TAL dropped further below $25
Inverse head and shoulders cause breakout downwards
Moving in a downward channel
Expect to continue movement downward within the channel, unless breakout of (1) 20EMA resistance level; and (2) upward boundary of resistance of downward channel.