A2M Head & Shoulders - Waiting for final Confirmation
A2 Milk appears to have lost to the bears.
A very distinct head and shoulders pattern has emerged although still not confirmed until neck line is broken.
Taking a look at the relative strength, A2M is under performing the ASX 200 (XJO) which also is a strong bearish sign.
Increased volume on negative candles and on right shoulder shows strong possibility of break down.
Finally the share is closed below the 30 Week EMA, which also signifies a bear movement maybe lurking.
Please note this general advice for educational purposes, carry out your own analysis before entering a position or consult a financial adviser.
A very distinct head and shoulders pattern has emerged although still not confirmed until neck line is broken.
Taking a look at the relative strength, A2M is under performing the ASX 200 (XJO) which also is a strong bearish sign.
Increased volume on negative candles and on right shoulder shows strong possibility of break down.
Finally the share is closed below the 30 Week EMA, which also signifies a bear movement maybe lurking.
Please note this general advice for educational purposes, carry out your own analysis before entering a position or consult a financial adviser.
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