Tickeron detected bearish Crypto Pattern: Head-and-Shoulders Top on April 28, 2024

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04/30/24

Head-and-Shoulders Top

CVX.X - Convex Finance cryptocurrency

Emerged: 04/28/24

Confirmed: 04/29/24

Breakout: $2.55

Price: $2.59

Target price: $2.31

A.I.dvisor detected a bearish Head-and-Shoulders Top pattern for CVX.X stock. This pattern was detected on April 28, 2024 and confirmed on April 29, 2024 . The odds of reaching the target price are 6. The pattern forms with a center peak (the Head, labeled 3) and left and right Shoulders (1, 5). Eventually the security stops testing highs and reverses trend into a decline. Consider selling a security short before it declines or buying a put option to benefit from the price decline. To improve success chances, wait for a confirmation move: allow the price to break below the Neckline level (2, 4), which is calculated as the average of the two lows between the Head and the Shoulders.

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CVX.X

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