https://blog.techcharts.net/wp-content/uploads/2020/05/May-12-Featured-Image.png 639 1384 Aksel Kibar https://blog.techcharts.net/wp-content/uploads/2017/05/Tech-Charts-logo-FINAL-CLEAN-340w.png Aksel Kibar2020-05-12 11:28:322020-05-12 11:28:32H&S BOTTOM REVERSAL
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 a head and shoulder bottom reversal chart pattern that is listed on the Paris Stock Exchange.
Over the past 3 years (2017-2020) Tech Charts Global Equity Markets report alerted members on 616 breakouts and breakdowns (long and short opportunities). The compiled statistics on those breakouts are as below. A chart pattern once completed with a confirmed breakout either reaches its chart pattern price target (successful) or it reaches chart pattern negation level (failed). It is interesting to note that H&S bottom reversal has been one of the best performing chart pattern followed by another H&S; the H&S top reversal. More detailed statistics will be shared during our members annual review which should take place by end of May.
REMY COINTREAU SA (RCOP.PA)
Remy Cointreau SA is a France-based company engaged in the production and distribution of wines and spirits. The stock is listed on the Paris Stock Exchange. Price chart formed a 4 month-long head and shoulder bottom with the horizontal boundary acting as strong resistance at 105.0 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 107.0 levels will confirm the breakout from the 4 month-long head and shoulder bottom with the possible chart pattern price target of 126.0 levels. (Data as of May 12, 2020, CET 13:00)
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