The buy signal comes on a breakout above the stock's neckline, which comes in at $62. Some traders are anxious about trading a popular pattern like the inverse head and shoulders -- but they shouldn't be.
A recent academic study conducted by the
Federal Reserve Board of New York found that the results of 10,000 computer-simulated head-and-shoulders trades resulted in "profits
That's a good reason to pay attention to CLH this month.
To see this week's trades in action, check out this week's Must-See Charts portfolio on Stockpickr.
Twitter and become a fan on Facebook.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts