A harmonic pattern under development targeting 139.5 area this pattern considered to be bearish because after its completion the price usually reverse after hitting the D and correct to 38% fib . The confirmation of the pattern should be the breakout of B résistance level but since its a little far from the current stock price the entry from this area with a stop...
After a completion of a bullish harmonic shark price bounced up from 886 Fibonacci from XA leg that represents the PRZ "Possible Reversal Zone"
Usually the shark pattern target is the 0.38 Fibonacci from XA leg as you can see on the chart the price target is 186 in addition to a classical Head and Shoulders pattern confirming the move once it hit 92.70
BEARISH HARMONIC PATTERN
Still not valid until price close above B .
If the pattern is activated the target will be point D which is the completion of the pattern and expect a 38% retracment.
