Technical Analysis (Charting)

Section: 6 Popular Charting Patterns

Sub Section: 6 Head & Shoulder

A chart formation that resembles an "M" in which a stock's price: rises to a peak and then declines, then rises above the former peak and again declines, and then rises again but not to the second peak and again declines. The first and third peaks are shoulders, and the second peak forms the head. This pattern is considered a very bearish indicator. The reverse of this pattern would be a bullish indicator. An example is illustrated graphically as follows:

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