SHORT | ATOS | H&S Pattern

ATOS

This is not a temporary pattern and I expect weeks or months of decline before any fundamental news release.
Possible Scenario: SHORT
Evidence : Bearish price action, Head and Shoulder Pattern

TP1: 4.50 TO 4.60 as buy zone
TP2: 3.20 TO 3.30 as buy zone, strong support, most of the HF accumulated at this range for 2 weeks.

It's in distribution phase of stock life-cycle

Distribution Phase
The distribution phase begins as the markup phase ends and price enters another range period. The shares are being sold over a period of time—the opposite of accumulation. This time, the sellers want to maintain higher prices until the shares are sold.
Whether it is distribution or accumulation is less easy to discern at this point. It is more important to be prepared for the next signal, rather than trying to predict the next move.
One of the most common distribution patterns is known as the head-and-shoulders pattern. Rounding or a dome shape indicates distribution preceding the markdown stage.
Source: Investopedia (www.investopedia.com...ycle-trend-price.asp)

* This is my idea and could be wrong 100%.

Kommentar:

It dropped as we expected, it test EMA 21, now we just one more confirmation for dropping more to 4.60 price target. Bears are in control now