CNC is below the neckline of what appears to be a Head and Shoulders pattern.
The 100% level of the downside from the H&S is marked and price is close to the .618 of the possible downside.
Calculated using the distance from the head to the neckline and projected down from the neckline.
Price does not always fall 100% and price can fall further than 100%. A lot depends on when the healthcare sector moves again.
Price is consolidating in a small consolidation zone which could be a bear flag. Flags are neutral until broken.
No recommendation/possible crab but price went a bit below the 1.618 of the 1st leg
The 100% level of the downside from the H&S is marked and price is close to the .618 of the possible downside.
Calculated using the distance from the head to the neckline and projected down from the neckline.
Price does not always fall 100% and price can fall further than 100%. A lot depends on when the healthcare sector moves again.
Price is consolidating in a small consolidation zone which could be a bear flag. Flags are neutral until broken.
No recommendation/possible crab but price went a bit below the 1.618 of the 1st leg