CREE, possible head and shoulders formation.

1 sept. 2018

CREE is forming a head and shoulders formation, the left shoulder had significant volume accompanied to relatively high volume for the head. The formation of the right shoulder is typically underway, we want to see volume significantly lower than the left shoulder and head (volume contracting). If this occurs up to the point of the neckline watch for unusually high volume on the red side for further confirmation of bearish sentiment. the arrow represents the measuring objective for a short position being the same relative vertical distance from the neckline to the head. If volume fails to constrict during the right shoulder and doesn't violate the neckline then the primary bullish uptrend will be in continuation
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