Head and shoulder formation on LICHSGFIN

LICHSGFIN is forming what that appears to be a reverse head and shoulder pattern on daily chart. Stock has been on a steady uptrend for more than a year now. Note the run up prior to formation of head and shoulder pattern with good volume. Also during selloff there wasnt much volume indicating sellers are dried out. On the right shoulder there was a hammer pattern formation forming a good support if entered at right price after breakout. Bullish finish today indicates there is more buying to come. However wait for a strong close before entry.

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