CGNT Stock Tickeron detected bullish Stock Pattern: Head-and-Shoulders Bottom on July 17, 2024

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07/18/24

Head-and-Shoulders Bottom

CGNT - Cognyte Software Ltd

Emerged: 07/17/24

Breakout: $7.88

Price: $7.94

Target price: $8.34

A.I.dvisor detected a bullish Head-and-Shoulders Bottom pattern for CGNT stock. This pattern was detected on July 17, 2024 . The odds of reaching the target price are 6. The Head-and-Shoulders Bottom pattern is formed when the price of a security creates a center trough (the inverted head, labeled 3) and the left and right inverted shoulders (1, 5). After reaching the lowest low (the Head, 3) the next low is shallower and the trend reverses course to the upside. Consider buying a security or a call option at the low once the pattern is confirmed, which is known as the breakout point. The pattern is confirmed when the price breaks above the Neckline (2,4).

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