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Re: MEBHAR post# 60571

Wednesday, 05/19/2021 10:35:57 AM

Wednesday, May 19, 2021 10:35:57 AM

Post# of 79835
Technically speaking, if you study the work of Charles Dow, the guy who invented all of these formations such as the "head and shoulders formation" back in 1882, this is NOT a head and shoulders formation in ANY since of the word!!!

A Head and Shoulders formation is always found in stocks that have spent 6 OR 8 MONTHS TO DEVELOP AFTER IT HAS SPENT PROBABLY A YEAR OR TWO GOING UP developing and you will NEVER find them in sub-penny stocks or stocks below $4 dollars for that matter. I am not going to tell all of the details that can be found in the book "Technical Analysis of Stock Trends" published in 1953 if my memory serves me correctly smile