H+S formation on CCL, weekly chart. go short ONLY if the $28 is taking out.
Kommentarer
Algokid
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Learning something everyday. Thanks for the information Tim :)
timwest
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You are welcome! I think the amazing thing about CCL also is that they have had the two cruise ships in the news (the one that was run aground, and the one that last week had the engine blow leaving it dead in the water) and this is all they can do to the stock? Wouldn't you think the stock would be lower? Me too. Maybe all the bad news is baked into this stock at these prices. Food for thought. Tim
Algokid
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hmmm!!, food for though indeed !
timwest
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A good rule-of-thumb to apply to any H&S pattern is to make sure there is a body preceding the head that is at least twice the size. This ensures that there was an actual "trend" prior to a "trend-reversal" pattern. I unfortunately see far too many people labeling "H&S" on everything. But once some logic is applied you can re-label as something else. Again, just hoping the technical analysis community would adopt the more logical application of "pre-conditions" for a H&S pattern. Keep up the good work Algo kid! Cheers. Tim