LPSN - Live Person - Head and Shoulders - Short
Live Person - LPSN - has been creating a head and shoulders pattern. It this stock drops below the neckline, around $6.00, the head and shoulders pattern will be complete. The target for live person (LPSN) would be $3.00. This is calculated by subtracting the head ($9.00 during mid April) from the neckline ($6.00) which is $3.00. Subtract $3.00 from the neckline value ($6.00) to get the target of $3.00.
It would be normal for the a head and shoulder pattern to break through the neckline on the downside and retest the neckline again before going lower, creating an additional short selling opportunity.
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