ABNB has completed the formation of an invert H&S bottom and looks to be on the verge of breaking up. Will it happen?
When it does breakup, it is normal for the stock to retrace after a few days to retest near the neckline (which ideally should then become the new support). If and when this happens, it will present a 2nd opportunity to stake.
Theoretical Target will be the distance between the lowest point (head) of the pattern to the neckline, and then projecting this same distance up from the neckline (ie around 165).
Let's see if this trade will work out!
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
When it does breakup, it is normal for the stock to retrace after a few days to retest near the neckline (which ideally should then become the new support). If and when this happens, it will present a 2nd opportunity to stake.
Theoretical Target will be the distance between the lowest point (head) of the pattern to the neckline, and then projecting this same distance up from the neckline (ie around 165).
Let's see if this trade will work out!
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!