SCIENCE APPLICATIONS INTL. – H&S CONTINUATION
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features an head and shoulder continuation chart pattern on Science Application International Corp. listed on the New York Stock Exchange.
SCIENCE APPLICATIONS INTERNATIONAL CORP (SAIC.K)
Science Applications International Corporation (SAIC) is a provider of technical, engineering and enterprise information technology (IT) services. The Company provides its services primarily to the United States Government, including the Department of Defense (DoD), the intelligence community and federal civilian agencies. The Company provides engineering, systems integration and information technology offerings for government projects, and offers a range of services with a targeted emphasis on higher-end, differentiated technology services. The stock is listed on the New York Stock Exchange. Price chart formed a 20 month-long head and shoulder continuation with the horizontal boundary acting as strong resistance at 89.8 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 92.5 levels will confirm the breakout from the 20 month-long head and shoulder continuation with the possible chart pattern price target of 117.75 levels. Breakout can push the stock to all-time highs.
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