WOR - Worthington Industries, Inc., through its subsidiaries, operates as a diversified metal processing company, focused on value-added steel processing and manufactured metal products.
news: may run into earnings 6/22
technicals: broke downtrendline, inverse head and shoulders break(may want to wait for volume to kick in)
Hey thanks for posting the inverse head and shoulders. i had posted a chart like that here and someon said that there was no such thing. THe thing was I didn't label it as "Inverse", just head and shoulders. It's that the right shoulder must be slighltly lower on the inverse? And that in a regular H and D, the right shoulder should be a little higher than the left?
Thanks
some people say there are set rules but I say you just need the basic setup. I've seen them succeed in different ways. Generally, though, I would say you're right, I like to see the right side of an inverse lower, and the right side of a normal h&s higher. I posted some other inverses here...do a search on TWTC...latest one i recall.
Could this be a play?? Fell from above $20 but seems to have went bullish. Forming a double bottom and volume up today. Crossing over MA(50) today. RSI over 50. Recently autorised buyback program of up to 11% of outstanding common shares.
What do you guys think??
I'm no expert but that looks like a textbook head and shoulders (invert) to me.
indeed it is...
http://www.3stocksonfire.org/trading/index.php?topic=357.0
but now it may continue.
will watch. Nice Athakinu. :)
added: If its earnings is 6/22 may be starting its run.
Been some time of any talk on this.......
Here is a look at the chart...interesting...