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


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of 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. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.


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

Read more “A Look at $MSOS, Dude”


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of 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. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.