Algonquin Power & Utilities Corp T.AQN.PR.A

TECHNICAL INSITE. GLTALongs.....

[Mrlongpants]

clear

Head and Shoulders Bottom

2023 Feb 01Daily

 

Intermediate-Term Bullish

Volume	3,482,050
Close Price	9.80
Target Price	11.10 - 11.30
Pattern Duration	57 days
Inbound Trend Duration	56 days

Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.

The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the

[Mrlongpants]

Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend. The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at