ZN Inverse H&S (Red Neckline) at Blue Megaphone VWAP Targets Taking Out October High
The 10-year t-note has put an inverse H&S on its daily and 60-minute charts with a neckline at VWAP of the blue megaphone.
An upwards breakout from the inverse H&S would target taking out the October high by a little.
If the breakout turns into a megaphone right shoulder, it means a delay but the formation would still usually break out upwards when the megaphone completes.
A breakout downwards from the inverse H&S would mean a trip to the orange megaphone bottom, but you’d have to watch out for a bottoming pattern to form at the blue megaphone bottom for a big move upwards.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.