I don't see where you are seeing a head and shoulder formation. Not to mention that much more than just the formation of a head and shoulders need be taken into account for it to be the reversal that comes from such a formation.
All this talk of charts and head and shoulders. All that gets thrown out the window with one big PR from BPAX. If they were to announce a buyout you can take the head and shoulders and throw it right out. To me, Biotechs are way too volatile and move way too much on news and speculation to put much weight into chart readings. All IMO.