You can`t escape the power of a flag :-) TP2 reached. With the yesterday`s Q-3 results GWPH crashed to its mentioned TP2 of the shs @ 101.77. GWPH was traded intraday till 103,06$. Thats`s really har but it was early predictable. GWPH closed on its Bollinger Bands & trendchannels bottom edge. IMO that should initiate a little Rebound. For a possible reboundtarget, the 38,2 fibo makes sense. (109,92). The RSI moreover shows an oversold Situation which increases the likelihood for a Rebound. Good trades!
former Analysis: GWPH with bearish FLAG The break of the neckline let the price drop to its trendchannel bottom edge. At this niveau, a consolidation between 110,75 - 116 started. This is the neutral Zone. GWPH is forming a bearish flag. This results in two tradingmarks (yellow arrows) : Short trigger: 110,5 - TP 121,5 (trendchannels upper edge) Long trigger: 116,5 - TP 101,5 (target of the flag and the max. target of the bearish head-shoulder-Formation.
Target reached! TP @ 112$ - the min target of the mentioned shs is reached today. Today we kissed the trendchannels lower edge so i exspect a little rebound before TP will be aimed....The possible target of a rebound could be the 38,2 or 0,5 fibo-retracement @ 118,5/ 121 - lets see.
On its way up again The shs has not be confirmed up to now. Prices above the "right shoulder" should generate an new buying-Signal with TP1 @ ATH. At the ATH-level i exspect a little consolidation before the ATH will fall. If GWPH can Close the days above ist ATH, that generates a new cyclical target @ 143-147$
GWPH with bearish H&S ? GWPH is forming a bearish H&S @ the daily chart. A Close above the right shoulder generates a shortterm target @ ATH A Close below the neckline @ 117,75 generates a Minimum target @ 111$ / maximal target @ 103,5$
Consolidation started? The middle-term Long-tradechannel has to be discussed.
-A dip to the old breakout-Level @ former ATH 111,5$ has to be exspected, when GWPH Closes below 117. -A Close below 111/103 generates a sellingsignal with target @ longterm uppertrend bottom-edge @ 88,5