The Security has formed Head And Shoulder in an 1 hour time frame.

Head and Shoulder is a Reversal Pattern, a breakout from the pattern would be an opportunity to enter short in the security.

Currently the security is trading below both the Fast and Slow EMA indicating a negative direction. Fast EMA has crossed Slow EMA from upsideb indicating negative trend, as per EMA studies these are some of the strongest trend signals.

DI- is trading above DI+ indicating negative trend and ADX trading above both DI is indicating strength in the downward move.

Advice : Wait for the price to close below the neckline.

HEAD AND SHOULDER

Mar 12 2023