Don't Ignore This Chart!

SunPower Traces out a Bullish Continuation Pattern


There are two types of head-and-shoulders patterns: reversal and continuation. A reversal pattern changes the trend, while A continuation pattern resumes the trend. SunPower surged in September and then consolidated with an inverse head-and-shoulders. Neckline resistance resides in the 14.90-15.10 zone. A breakout would suggest a continuation of the prior advance. 

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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. Learn More
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