Where's pandev when you need him?? He was certainly quick to point out that head and shoulders on the chart a couple of months back.......not that he wasn't right and not that I didn't agree with him. But now we see a potential reverse head and shoulders appearing with a potential quick fire 2.60 -2.70 upside target.
This doesn't have to happen. Price may meet resistance at the neckline (currently $2.00) and get turned back....but let me just say this. Remember when the trend was down and no amount of good news had any positive effect?? When the cycle is agin you then it is agin you but the reverse is also true. Remember when overhead resistance was $1.30 and we had that cup and handle pattern?? and the the Amazon announcement happened?? Well what we need right about now is another Amazon moment. We need a trigger to push it up through that neckline resistance after which we could see a repeat of the move to $2.29 but this time to $2.60 -$2.70......but then also maybe much higher because the cup and handle target was only $1.70 but it got to $2.29 but anything over $2.70 at this stage I would see as a bonus.
