Classis Head and Shoulders Bottom....ie. inverterd H & S...
The pattern that formed is a HEAD and SHOULDERS BOTTOM, a very bullish formation.
Left Shoulder 14th May - my birthday
Head 28th May
Right shoulder 25th June
Neckline - Straight Line that joins at base of shoulders....
Piercing of neckline signals breakout ....this actually happened on 14th of July
Now this is where it gets very interesting. As it will breakout to the upside 98% of the time you DO NOT need to wait for the break out before buying. If you can determine a head and shoulders bottm has definitely formed buy the stock as it rarely dissapoints. In this instance I would have bought on the 30th of June and caught the breakout on the 14th of July.
50% of the time it will throwback to the neckline...turn around and go back up...ie if you missed it a 2nd BUYING opportunity. In this case there was no throwback.
Average rise 38%
Most likely rise 20to 30%
have a look at that chart.., page-3
Add WOW (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$33.79 |
Change
-0.090(0.27%) |
Mkt cap ! $41.27B | |||
| Open | High | Low | Value | Volume |
| $34.00 | $34.10 | $33.68 | $66.46M | 1.964M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 965 | $33.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.79 | 11715 | 4 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| WOW (ASX) Chart |