This Pattern on $MSOS May Lead to a 40% Rally

There’s lots of noise out there in the market right now, and not a ton of good chart patterns to work with. That said, there is a good looking inverse head and shoulders pattern developing on $MSOS. The safe trade is to look for a neckline recapture and retest (and launch), but one may also make a trial entry from these lows, but with the foreknowledge that much lower than the 61.8% retracement of the most recent advance would begin to call the inverse into question.

So, that’s the setup. If the inverse plays out, upside target is 40% overhead.

MSOS


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A Look at $MSOS, Dude

Looking at the decline on $MSOS, it can be counted as a 5-3-5 zigzag A-B-C structure. It looks like we’re trying a little breakout here, so a conservative first target is noted, though there will no doubt be more down the road.

MSOS

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Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.