PAGS Double top, failed reverse head and shoulders, 3 wave
Diupdate
Failed reverse head and shoulders and a double top. The stock also likes to do 3 wave retracements with wave 2 being a consolidation pattern, usually double top. Wave 3 is about the same length as wave 1. It has done this pattern on the smaller scale twice before. Selloff, double top in consolidation, selloff. RSI is weakening and also showing a bearish divergence. I think $12.3 will be a good point to pick this stock up, but for now I am bearish for ER and bearish for the stock.
In summary, we have
-Decreasing RSI
-Failed reverse H&S
-Double top
-3 wave corrective pattern with 2nd wave being consolidation
-Sector dragging it down
In summary, we have
-Decreasing RSI
-Failed reverse H&S
-Double top
-3 wave corrective pattern with 2nd wave being consolidation
-Sector dragging it down
Catatan
Pags short played out!
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