Stocks And Shares 2023 Investment Notes

Investment Notes     Our Approach is Different    Follow The Money Trail    Focussed On Market News

I’ve outlined three key characteristics of this pattern…

1. First, we have the left shoulder, which formed in March 2022 when IBB attempted to rally. This rally quickly stalled at around 135, leading to a sharp decline over the next several weeks.
2. IBB finally found support around the 105 level in June, forming the head of the pattern. The market then rallied once more, eventually finding resistance back at 135.
3. The ensuing decline found support around 113 in September, forming the right shoulder.
4. Once the two shoulders and the head of the pattern are in place, it’s possible to draw the neckline (blue line). It’s a trendline that connects the left and right shoulders.The head-and-shoulders pattern is complete once prices break beyond the neckline.For IBB, prices broke through the neckline on November 30.Now that the breakout is underway, I wouldn’t be surprised to see IBB return to its November 2021 peak of 164. That’s over a 20% move from the neckline of the pattern.And once the trend is in motion, I can comfortably place a trade in that direction.Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation. We can only vouch for ourselves but already in less than a week up by £68 on 7 shares invested with 5+ and 2- using a system we have devised so will be interesting to see if this continues on through 2023.