Bazaar Breakout Level

Bazaarvoice (BV) broke-out mid 2013 after completing a 6 months rectangle bottom and reached its target and more. After that BV went into a downtrend. Today a 6 week H&S bottom is underway in which the neckline happens to be the same level of the previous years’ rectangle at 8.15. Initial target is $9. But this time caution is needed as there is a Gap from November which usually acts as a resistance zone. Stop loss @ $7.90 as per LDR

Best to your trading!

 

BV

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