CRV & RAY: Is the Inverse Head and Shoulders Pattern 'Going Live'?
CRV has completed the inverse head and shoulders pattern, breaking the neckline at $0.58 and is currently trading around $0.63. The breakout zone may see a slight retest, but if the upward momentum continues, the next target is $0.83 – equivalent to a 32% increase.
The momentum is positive, and if the price continues to hold above the neckline, the possibility of extending the upward trend is quite high.
RAY has not broken out yet but is completing the right shoulder of the inverse head and shoulders pattern. There may be a slight adjustment to $1.64 (near MA50) before testing the neckline at $2.10. If it successfully breaks out, the price could aim for $2.31, even higher if overall market sentiment continues to improve.
Both are showing technical patterns that support a bullish reversal trend – notably in the short term
