Inverse Head & Shoulders
$NVIDIA(NVDA.US$ This chart shows a different pattern, likely representing an **Inverse Head & Shoulders**.
Key features:
- **Three lows**: The middle low (head) at 101.37 is the lowest, flanked by two higher lows (shoulders).
- **Neckline**: A horizontal resistance line around 105-106.
- **Breakout**: The price is moving upwards, approaching or crossing the neckline.
This pattern suggests a potential reversal from a downtrend to an uptrend. If the price breaks above the neckline with increased volume, it could indicate further upward movement.
Key features:
- **Three lows**: The middle low (head) at 101.37 is the lowest, flanked by two higher lows (shoulders).
- **Neckline**: A horizontal resistance line around 105-106.
- **Breakout**: The price is moving upwards, approaching or crossing the neckline.
This pattern suggests a potential reversal from a downtrend to an uptrend. If the price breaks above the neckline with increased volume, it could indicate further upward movement.
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