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SolarCity Corporation Message Board

  • stocksgirrl stocksgirrl Apr 16, 2014 3:59 PM Flag

    there's a short term inverse head/ shoulder pattern on the daily chart of both scty and of the spx...

    the head lows were put in yesterday for both the spx and for scty.

    this kind of pattern is bullish- but often, it will just complete to the neckline and not get to the price target of the pattern- just like the 5 day inverse head/ shoulder pattern for scty did today- of just getting to the neckline above $56 and not getting higher.

    this 5 day inverse head/ sh pattern (seen to the right of this message board- the yahoo message board privided chart) is within a 2nd longer duration inverse head/ shoulder pattern for scty- on the daily chart.

    the head bottom price is the same for both patterns- but the neckline of this longer pattern is between $60 and $65 area (hard to tell on the daily chart if it's $60 or $65- so, i can only say between these 2 price areas). this is a longer duration pattern (than the 5 day pattern) which means it takes longer to play out than just 5 days. it's not that long of a pattern though- only a 2 week pattern thus far to form the first half of the pattern- so, in the next 2 weeks, the 2nd half of the pattern should get formed- meaning: fully formed to the neckline of the pattern.

    so, within the next 2 weeks, we shall see if the longer duration pattern continues to play out to completion of this inverse head/ sh pattern (to the neckline) ;)

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