WOW 1.68% $33.99 woolworths group limited

have a look at that chart.., page-3

  1. 3,474 Posts.
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    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%

 
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