https://blog.techcharts.net/wp-content/uploads/2021/02/HS-TOP-FAILURE-IMAGE.png 338 770 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2021-02-25 09:07:212021-02-25 09:07:21H&S TOP OR A FAILURE?
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 from the watchlist section Trillium Therapeutics Inc.
TRILLIUM THERAPEUTICS INC (TRIL.O)
Trillium Therapeutics Inc is a Canada-based clinical stage immuno-oncology company developing therapies for the treatment of cancer. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 5 month-long head and shoulder top with the horizontal boundary (neckline) acting as strong support at 11.75 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close below 11.40 levels will confirm the breakdown from the 5 month-long head and shoulder top with the possible chart pattern price target of 7.16 levels. I’m also monitoring this chart pattern for a possible H&S failure. A breach above the right shoulder is required for the pattern negation and acting on this from the long side. 15.9 is the chart pattern negation level. (Learn more: Video Tutorial) (Data as of Feb 24, 2021)
Short educational video on H&S top failure
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