Danielle Waterhouse is the technical analyst at Kanektok Securities. One of the companies her firm follows is

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Danielle Waterhouse is the technical analyst at Kanektok Securities. One of the companies her firm follows is LPA Petroleum. Waterhouse believes that a graph of LPA’s share prices over the past six months reveals a classic head and shoulders pattern.

The share price peaked at US\($108\), and she estimates the neckline at US\($79\). At today’s close, the shares traded at US\($78\). Based on the head and shoulders pattern, what price target should Waterhouse estimate?

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Related Book For  answer-question

Investments Principles Of Portfolio And Equity Analysis

ISBN: 9780470915806

1st Edition

Authors: Michael McMillan, Jerald E. Pinto, Wendy L. Pirie, Gerhard Van De Venter, Lawrence E. Kochard

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