As a somewhat aggressive entry in anticipation of a breakdown below this H&S topping pattern, CDNS (Cadence Design Systems) will be added as an Active Short Trade here around the 24.59 level with an alternative, more conventional entry on a break below the neckline of the pattern. Negative divergences confirm the bearish nature of the Head & Shoulders topping pattern & foreshadow a likely trend reversal.
CDNS daily Sept 13th
T1 is 23.09 & T2, the final target, is 22.28 with a suggested stop above 25.30 or lower for those awaiting a break below the neckline for their initial short entry. The Suggested Beta-Adjustment is 0.8.