MATRIX Penny Stocks

[livermore4ever]

RBAK Head & Shoulders

Hi !

RBAK is trading a H&S (Head & Shoulders) pattern, being right now over the neckline reference.

The H&S is a reversal pattern, in this specific case, it could give us a selling signal, if the neckline is broken. Right now, the neck is on $4.85, and a breakdown would project RBAK to a $2.93 two month price target.

Take a look at my RBAK technical chart here:
http://globalspeculators.com/trading_futures/index.php?topic=24.0

There are also two upside references that we should mention:
- The short term descending resistance (5.30)
- The medium term descending resistance (5.75)
This values are the main upside reaction points for RBAK.

The H&S signal is not yet triggered, and the H&S pattern should be annulated if the second shoulder is tested.

Best regards,

Jesse Livermore