As its name implies, an inverse head-and-shoulders is an upside down version of the normal head-and-shoulders. Ixia (XXIA) has a one such pattern with a neckline breakout this week. Notice that upside volume started increasing as the right shoulder unfolded.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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