Replies to post #158182 on MATRIX Penny Stocks

[JP4]

TeenProdigy Problem is you can't say for sure that a head and shoulders has been completed here because there hasn't been enough down movement to confirm that. It could just as easily be the next leg up in a longer term positive movement.

[stockguy509]

Teen, I don't see a H&S pattern...

with NEOM. Looks like maybe a left shoulder and a head, and part of a right shoulder, but it never comes back down. Doesn't it need to come back down and break the neckline on high volume to confirm? Also, the left shoulder doesn't look like a shoulder to me. JMHO.

It does almost look like an ascending triangle though....decreasing volume with higher lows, and resistance at 0.15 (minus a few spikes there in the middle, but those are probably significant enough to invalidate the whole pattern).

BTW, it's not annoying at all (to me, anyway). I'm a newbie, and I enjoy discussing this stuff....it's the only way to learn.