Head and Shoulders on daily

head and shoulders confirmed on daily, it has already closed below 2.5% of NL 6.05% . a strong pullback to supply line is presenting a possibly great opportunity to short, watch the MACD to where it should start to turn down, again, i am looking at shorting from between 54 and 56.5. Fundamentally even though it has been beat ER, it is overvalued, using gurufocus' reverse DCF calculator Fair value= 19.58, 31% below the PT for this formation based on the measuring rule. Also earning do not jusify current price. Even though Operating Income and Net Income have increased 75 & 38% respectively current and LT 0.24% liabilities have increased 67% since 2012. Even if this pattern fails, this is a CLEAR indicator that a major reversal point is near. Looking at full chart picture the weekly shooting star forming the head hit the top of a symmetrical triangle that NTRI 3.19% has been in since 2007

Commentaire:

NTRI has new positive momentum on hourly which should carry us to $ 56-58 range which will fill the gap. It is not necessary for gap be fulled but may help indicate buying/selling pressure as to how much it actually fillls. Watch

for when MACD starts to turn less positive against the down trendline from Mar on MACD to reverse. This is where we want to short from.