PARTY CITY - potential H&S reversal pattern

2020년 6월 19일

These are my thoughts on PRTY. They are meant to give you an idea, not trading advice.

Party City is very low at these levels.
It looks like this stock is about to start building the right shoulder, to form an inverted Head and Shoulders pattern, which according to the textbooks is bullish.
If this is so, a buy at the lows of the forming shoulder would be a very good buy to enter a long position.
There's a gap at the end of 2019 that could get filled, what should take the price to about 5$.

2020년 6월 19일

노트

PS, I think the forming shoulder will bottom at the 100MA (pink line)

2020년 6월 23일

노트

For now things are moving in the right direction.
If this shoulder finds a bottom (hopefully close to 1$) we can look for a long.
Target somewhere close to 4$.
That would be a 400% run.

2020년 6월 23일

노트

sorry 300% run

2020년 6월 24일

노트

This is still looking very good, small cuts down to form that right shoulder.
Wait and see how it reacts to the pink line.

2020년 6월 26일

노트

still looking good.
Excited to see next weeks candle!

2020년 7월 8일

노트

This is looking very promising. I would like to see some more downside the next 2 weeks. That would give a nice entry point for a long swing up.

2020년 7월 14일

노트

still looking good

2020년 7월 14일

노트

Fib channel seems to hold very well at the 61.8 level

2020년 7월 14일

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it would be early though to go higher now, a drop to the 78.6 could be in the cards.

2020년 7월 24일

노트

I think we started the climb in the right shoulder.