Keep an eye out for a possible inverse head and shoulders.
If the inverse head and shoulders pattern completes and price breaks above the neckline, then there is 2.20 upside potential, which is the distance from the tip of the head to the neckline. So if the price breaks above at 11.80, then the pattern suggests a price target of 14.00.
If it breaks out, watch out for the 13.51 trend line witch acted as support and might act as resistance.
Estimated FQ2'16 Earnings Release is at 30 March, so there is plenty of time for a run up.
If the inverse head and shoulders pattern completes and price breaks above the neckline, then there is 2.20 upside potential, which is the distance from the tip of the head to the neckline. So if the price breaks above at 11.80, then the pattern suggests a price target of 14.00.
If it breaks out, watch out for the 13.51 trend line witch acted as support and might act as resistance.
Estimated FQ2'16 Earnings Release is at 30 March, so there is plenty of time for a run up.
