HSTX Head and Shoulders Top

Discussion in 'Technical Analysis' started by mgabriel01, Nov 24, 2007.

  1. In the process of learing to identify a head/shoulders top

    Im thinking this one does not show a clear enough uptrend prior to the Oct/Nov pattern

    Any comments?
  2. should have included this chart as well

    Im not sure I could call this stock in a meaningful uptrend in the period June/October

    thats really my question
  3. Mup


    Personally I find H&S only form at Highs.

    If a pattern looks like an H&S but the market is not at its high point then odds on its not a H&S.

    As for HSTX I would put it in a Triangle pattern unless it broke that last swing low point labeled C. :)
  4. Mup
    Thanks for the post and the insight

    This is all about interpreting the chart correctly in context after all

    A point of clarification
    When the 'market' is at its high? (ie the index)
    or the particular 'stock' is at its high?

    thanks again
  5. Mup


    Market meaning, any individual tradable item your analyzing, such as a stock in this case. :)
  6. Mup


    This is one of my favorite recent H&S patterns on XOM.
    It even has the classic neck line return. :)
  7. Mup - a cool example

    Do you use any particular tool or service to locate meaningful patterns?

    Just curious
  8. Mup


    Just the mark one eyeball :D

    I'm an Elliott Waver so you kinda get used to looking at patterns..:D
  9. Mup


    We were discussing H&S patterns in real time on the Elliott Wave Thread a few weeks ago.

    We were on the 5min ES ( S&P 500 Emini) and its quite a good example on why I only use H&S patterns that form at tops.

  10. Mup has done an excellent job analyzing HSTX, which used to be Stratex (*STXN ) ten years ago . . . They make Microwave Radios which isn't much of a "barn-burner" growth product; hence the trading range of between $16-$20.

    There is no head and shoulders TOP in this stock chart over the past year. This stock is like watching paint "dry".

    #10     Nov 29, 2007