WBT 15.2% $2.43 weebit nano ltd

Yes it certainly looks like a classical H&S but there are a few...

  1. 214 Posts.
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    Yes it certainly looks like a classical H&S but there are a few things that raise some questions in my mind. To get the neckline as you've drawn it, the bottom point of the right shoulder ignores the extended wick. This wick is then used to define a support level/trend line so shouldn't it also be used in the H&S pattern?
    Also the volumes don't match the accepted definitions of a H&S.
    This isn't a criticism of your analysis, just pointing out a few discrepancies that I find confusing.
    If the neckline as you've drawn it is valid then it becomes a resistance level and I would expect the SP to finish the day at or below 2.55.
    It will be interesting to see how it plays out.
 
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