HSTX Head and Shoulders Top

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
 

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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. :)
 

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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
 
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.


Quote from Mup:

H & S are only formed at tops...

If we get something that looks like a H & S coming of a bottom then odds on its some sort of Exp Flat or a Double 2 pattern....

http://www.elitetrader.com/vb/attachment.php?s=&postid=1673488

http://www.elitetrader.com/vb/attachment.php?s=&postid=1673492

To read the full context see page 133-136
http://www.elitetrader.com/vb/showthread.php?s=&threadid=101387&perpage=6&pagenumber=133


:)
More...
 
Quote from mgabriel01:

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?
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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".

Sorry.
 
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