DZSI, Head-and-Shoulders Bottom
I found this pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 73%
TARGET (EXIT) PRICE = 13.21 USD
BREAKOUT (ENTRY) PRICE = 13.01 USD
DISTANCE TO TARGET PRICE = 1.77%
EMERGED ON = Nov 24, 07:00 AM (EST)
CONFIRMED ON = Nov 24, 11:04 AM (EST)
WITH CONFIDENCE LEVEL = 77%
The bullish head and shoulders is the opposite image of a bearish head and shoulders. It has all the same parts—two shoulders, a neckline, and the head. Only instead of the shoulders and head being formed at high points for the stock, they are formed at low points.
The investor psychology is the opposite of the bearish pattern. The stock is falling and hits a temporary low to form the left shoulder before a bounce occurs and forms the left side of the neck. The upward momentum is temporary and the next down leg takes the stock lower than the left shoulder and forms the head.
Investors jump in thinking the new low is a buying opportunity but then start taking profits after a decent run up to the neckline. The profit-taking creates the next down leg, but investors start buying on this third down leg before it gets down to the previous low. This forms the right shoulder and starts the next upward move.
Now, the momentum is to the upside and the buying pressure sends the stock above the neckline. At this point, the pattern is confirmed. After breaking above the neckline, the upward momentum is likely to continue and the stock price keeps moving higher.
STATUS = Confirmed
CURRENT CONFIDENCE = 73%
TARGET (EXIT) PRICE = 13.21 USD
BREAKOUT (ENTRY) PRICE = 13.01 USD
DISTANCE TO TARGET PRICE = 1.77%
EMERGED ON = Nov 24, 07:00 AM (EST)
CONFIRMED ON = Nov 24, 11:04 AM (EST)
WITH CONFIDENCE LEVEL = 77%
The bullish head and shoulders is the opposite image of a bearish head and shoulders. It has all the same parts—two shoulders, a neckline, and the head. Only instead of the shoulders and head being formed at high points for the stock, they are formed at low points.
The investor psychology is the opposite of the bearish pattern. The stock is falling and hits a temporary low to form the left shoulder before a bounce occurs and forms the left side of the neck. The upward momentum is temporary and the next down leg takes the stock lower than the left shoulder and forms the head.
Investors jump in thinking the new low is a buying opportunity but then start taking profits after a decent run up to the neckline. The profit-taking creates the next down leg, but investors start buying on this third down leg before it gets down to the previous low. This forms the right shoulder and starts the next upward move.
Now, the momentum is to the upside and the buying pressure sends the stock above the neckline. At this point, the pattern is confirmed. After breaking above the neckline, the upward momentum is likely to continue and the stock price keeps moving higher.
إخلاء المسؤولية
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