ST Eng

This is a mini eg. of Triple Top formation in the making. Triple Top is a pattern very similar to the Double Top -- only that there are three distinctive tops rather than two. The technical target for Triple Tops is derived by subtracting the price difference between the top at #1 and the reaction low from the breakdown level. After the third top has been created, the breakdown level is the low created between tops #2 and #3.

Personal Opinion:
Rather than wait for completion of technical Triple Top formation which is form if $2.23 fails, Aggressive traders can consider shorting near resistance level at around $2.58. However, a closing above $2.60 with heavy vol should be interpreted as breakout from resistance and traders should immediately cut loss and cover back position.