Keith Richards
Standard Pacific
SPF-N
DON'T BUY
Oct 01, 2013
The trend line from May 2011 to earlier this year was broken. It is probably a pretty good example of a head and shoulders top. This was followed by a “Test”. The chart is bearish from every technical perspective that he can talk about.
Chart shows a classic topping formation. The main thing to look for is a break in the neckline. He would say that we are about to enter into a bear market pattern for this company.
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The trend line from May 2011 to earlier this year was broken. It is probably a pretty good example of a head and shoulders top. This was followed by a “Test”. The chart is bearish from every technical perspective that he can talk about.