The inverted head and shoulders formation has been confirmed after price breakout above the red bold neckline on 24th April 2008 with high volume. The green long up bar candlestick was followed by a hanging man doji clone candlestick charting pattern near the 200 days EMA resistance line. The next candlestick bar may meet some resistance at the 200 days EMA and failure to breakout above this resistance will result in a pullback towards the neckline support. Conversely, a breakout above 200 days EMA will propel price to test the next resistance at 84.5 cents followed by $1.00 .
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