Question: In technical analysis, there is a pattern called head and shoulders (search it up online). Suppose it is true that, whenever the pattern occurs, stock

In technical analysis, there is a pattern called head and shoulders (search it up online). Suppose it is true that, whenever the pattern occurs, stock prices tend to predictably crash and produce negative average returns. Please answer the following two questions. (a) Is this consistent with the efficient market hypothesis? (b) If yes, explain why. If not, explain which of the three forms of efficient market hypothesis is being violated, and why.

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