Stocks To Keep A Close Eye On

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bunny

bunny

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#5,627
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prasadam said:
Hi bunny,

your view on this H&S pattern.


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Hi Prasadam,
The volume characteristics under the shoulders and head are not as expected for a HS pattern.

The left shoulder should be formed with an surge in volume. If you observe closely, here the surge comes after the left shoulder is completed.

The volume under the head(after ignoring any spikes) should be lower than that under left shoulder. Here, the volumes consistently remains greater than it.

And finally, the volume under the right shoulder should be lowest, or atmost equal to that under the right shoulder.

EDIT:
Check out this HS pattern:
 
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