Thursday, June 24, 2010

SWC -- Inverted Head and Shoulders?

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SWC (Stillwater Mining Co) Daily Chart
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If this inverted head and shoulders pattern plays out, price could drop another buck from here, then should head north to the neckline at around $14.50.
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The pattern then projects a minimum of the distance from the head to the neckline ($4) times 2 = $8.  Minimum price then becomes $10.70 + $4 +$4 = $18.70.
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I'm still holding my shares and possibly for a nice ride, if I am patient.
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Click on the chart to ENLARGE

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