ðĨ LUNC Head & Shoulders Pattern: More Selling Ahead
LUNC has been gaining a lot of attention over the last few weeks. However, ever since LUNC topped around 60,000 we've seen continued selling.
During this period of consolidation, a head & shoulders pattern has been formed on the chart. This pattern is classically a bearish reversal pattern. Wait for a close below 36,000 to confirm the bearish trend.
In my view, it's likely to see more selling over the coming days. First target placed at the left shoulder (blue), second target placed at the May all-time high.
During this period of consolidation, a head & shoulders pattern has been formed on the chart. This pattern is classically a bearish reversal pattern. Wait for a close below 36,000 to confirm the bearish trend.
In my view, it's likely to see more selling over the coming days. First target placed at the left shoulder (blue), second target placed at the May all-time high.
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