H&S Possible but “Be Careful Here....”

31 Mar 2021

H&S pattern still in play but I’ll issue a “be careful here”... big volume off of critical support. Admittedly the stock is still somewhat in no mans land, but the bulls came out bigly today. The recent secondary got done at an average of 10% higher vs the current stock price. I’ll stick to my Elliott Wave count. Primary III is starting. Risk reward is very favorable, you have $5 of down side for the H&S to start with a break of the neckline.... or $105 upside if Primary III is the correct count. 21x upside vs downside sell signal.
What do you do?