PPK came up today on my weekly chart scan.The weekly chart shows...

PPK came up today on my weekly chart scan.
The weekly chart shows a 1.4-year Inverted H&S with a horizontal neckline at 6.90
The daily chart shows a "zoom-in" of the right shoulder. It can be viewed as a 30-week
inverted H&S with an up-slanting neckline (and one day of out-of-line & unusually high
volume on the 9th). It "broke" on Friday with a strong bar & relatively high volume. Friday
price action is the most important of the week - the strength and close of that bar are
most encouraging...
I will be looking for an entry this week at around 0.5 of an Average True Range above
the neckline of the weekly pattern (if the volume continues to support the trade) at around 7.06
Personally, My stop would go below Friday's low. First target 8.28, ultimate Target 12.00 with
risk-reward ratios of 1:1.6 & 1:6 respectively.
A break of the ATH level of 7.6 will be the first validation...
GLTA