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Username: BobM

Rating:
Guru Stars

Asked to: Goro Yang

Date Created: 25 Jan 2017
Category 17
Tag Financial
Question Please give the definition of 'Neckline'.
Advice from Guru
Hello BobM,

A level of support or resistance found on a head and shoulders pattern that is used by traders to determine strategic areas to place orders. Each peak of a regular head and shoulders pattern falls toward a support level, also known as a neckline, before it rises to create the next peak. A move below the neckline (in the case of a head and shoulders top) is used by traders as a signal of a reversal of the current uptrend.

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