A (LUVLY) Head & Shoulders formation

10 ม.ค. 2019

A well-defined Head & Shoulders formation has been created since January of 2017 (this is a two-year-bearish formation). Long story short, the price is expected to be testing the formation's neckline (around the $50.00). An ideal initiation of the short-idea would be a confirmed (bearish-reversal) candlestick on the weekly chart. The candlestick should be somewhere below the peak of the right shoulder, preferably near the neckline.

*Always remember: this is an opinion, not a recommendation*

May the trend be with you