Ardmore Shipping Corp (ASC)

[stocktrademan]

ASC buy 4.45

Was rooting around the Russell 3000 list entries and saw this one

Immediately recognized the inverted head and shoulders pattern on many different charts

Implies many different trade opportunities as defined by the basic pattern structure

Each graph where it is identified has the same trade setup yet on different time frames and profit taking levels

The inverted head and shoulders pattern is a good one to keep in mind, as the trade setup usually has a 2:1 or 3:1 reward to risk ratio, meaning you can be wrong at least half the time and still make a profit.

Basically you buy the breakout of the neckline and place a stop below the right shoulder. The sell target is how deep the head is to the neckline flipped upwards.

As we can usually see the distance from the buy price to the stop level is 1/2 to 1/3 the distance to the sell price target.

for more info on the most accurate pattern to use
https://www.google.com/search?q=inverted+head+and+shoulders

while not certain, this pattern might have a link to a certain guy "Kilroy was here"
https://www.google.com/search?q=kilroy+was+here

and a certain song from the 80's by Styx called Mr. Roboto

https://ardmoreshipping.com/

https://finance.yahoo.com/quote/ASC/profile?p=ASC

https://www.barchart.com/stocks/quotes/ASC

https://finviz.com/quote.ashx?t=ASC

https://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=ASC

https://stockcharts.com/c-sc/sc?chart=ASC,uu[e,a]dhclyiay[uu][pb5!b10!b50!b100!b200!d20,2!h.02,.20!f][vb5!b20][iut!lv8!lk9!LE12,26,9!ll14!la6,13,5!la8,17,9!la12,26,9!uc14!ub14!ub6!lo!lp7,3!lh9,3!LI14,3!lxa!ld8!lq!lg14!lf14][j20444984,y]&r=3555b

https://www.barchart.com/etfs-funds/quotes/ASC/technical-chart?plot=CANDLE&volume=total&data=DO&density=X&pricesOn=1&asPctChange=0&logscale=1&indicators=TREND&sym=ASC&grid=1&height=500&studyheight=100&timeframe=2%20Months




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