Nphase Technical Setup: Potential Inverse Head & Shoulders

16 days ago

Josh

"I have been watching some stocks that have not done well and one of them is Nphase. It really had a long decline, staying under the zero line until recently. Now, with an initial cross above zero and a formation resembling an inverse head and shoulders pattern, the immediate technical target appears to be around $56, possibly extending to $60 if support holds. The recent volume and a potential turnaround candle suggest early accumulation, making it a compelling dip buy opportunity for those looking to capture a reversal."

The speaker presents a trade call for Nphase based on a technical chart setup. He observes that after a prolonged decline, an inverse head and shoulders pattern might form with an immediate target in the mid-$50s, suggesting that the stock could rebound from current lows.