VPHM: At 11.60-11.63 Resistance

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From November 21:

"Resistance levels:

10.88 - The 200 Day Moving Average
10.93 - The broken neckline (rises 0.0477 each session)
11.20-11.23 - The gap from yesterday morning
11.60-11.63 - The broken bottom of the Descending Triangle that gave us the 10.84 target that got MADE yesterday"

1. After breaking down below four Bearish patterns, VPHM has come all the way back to 11.60-11.63 resistance, and it's back above the neckline of the H&S Top, which comes in today, December 4, at 11.318. Yesterday's high was 11.61. The 50 Day Moving Average is at 11.609.

2. Notice also, beginning at the 13.10 high on November 5, the "hits" (black arrows) to the black down trendline. There are about 10 or 11 candles that found resistance at that trendline, but yesterday's close finally was above it.

These two factors certainly look constructively bullish.

What Bulls DON'T want to see is VPHM fail right here, or a little higher, at Red #4, which would be a Bear Flag/Bearish Rising Wedge (recent pattern in red, off the November 21 low of 9.65). VPHM has been fending off the bearishness of the pattern breakdowns very well and is in the high end of the recent trading rangle. It needs to continue higher and take out the down trendline off the September high (green down trendline, which is at about 12.20) and also get above the 12.42 high of the Right Shoulder.