Tradervader, I do see what you looked at there... in its own way , that also is a 'head and shoulers' on some level.
But I was referring to the larger chart picture, look at a one year chart...and se that left shoulder from last October, at 13 dollars. That's clearly a left shoulder zone. and the 19 top is clearly a 'head'.
So if there might become a 'right shoulder' it ought to be around 13 again.
Maybe its the difference between the patterns on a daily chart and the pattern on a weekly chart.
Most technical chart study would at least say that the 20 ma marks the flow of a wave trend, and this downwave ongoing has the 20 ma right at 13 now, waiting like a snake.
I guess there are a lot of indicators that can mean something.
there seems to be a handful of things right now, the head and shoulders pattern is just one of them. these moving averages is another, and the current down wave is still intact as long as that 20 ma is there at a critical price point,13 dollars.
More critical points are above that one, 14.75 , the 50 ma is there.
In that head and shoulder zone you mentioned , where price started this downwave at 17 area(also around 16 area), price made a big plunge on march 24 to hit 12.53
That was a shattering plunge.that hit the critical support area.It looked good to see it rally back up like it did, but when April really began this downwave , we saw lower lows and lower highs, and 13 became resistance, that took price down to 10 dollars
So even without considering a head and shoulders pattern at 13....the 13 dollar zone, marked now by the 20 ma, is already hardened as a critical resistance level, to overcome. 12.75-13.25
it will be interesting to watch price action when it gets there again.
This was a nice bounce from 10 dollars. but the battle is not nearly over. and after 13 gets broken through, I expect to see hard resistance at 15-16 area.
sorry for such a long post, its hard to describe the details in words.
I'm interested in what you see as well.
