mc, part of the inherent problem with message boards is that it's more difficult to communicate clearly than if one is speaking in person and having a chart handy to point to. And an instance of this is where Freep, ajtj, and I are using the term inverse H&S "bottom" on SBUX.
The bottom to which Freep (and I) was referring was the bottom formed after the move down from January's 64 high to April's 44 low, and is best viewed on the six month chart below. If you don't feel that's an H&S bottom, then I'll defer to Freep who originally started the discussion to defend the validity and technical intricacies of this pattern (<g>) as I'm running off to court for most of the day.
stockcharts.com[h,a]daclyyay[dc][pb7!b17!f][vc60][iLah12,26,9!Lp14,3,3]&pref=G
On the weekly chart, the inverse H&S is better view in this limited chart.
stockcharts.com[h,a]waclyyay[dd][pb7!b17!f][vc60][iLah12,26,9!Lp14,3,3]&pref=G
I understand your point of it unlikely being an inverse H&S within the longer timeframes of the three year move up on SBUX, but also I understand that sometimes it seems that we sometimes engage in a limited form of a word game with our posts depending in whether we are taking a larger view or o more micro view. If you feel that the move down from January isn't characterized as an inverse H&S bottom pattern, how would you characterize that move? |
