Investors should be on high alert for further downside in the coming weeks/months on Toll Brothers (TOL). This is because there is a clear Toll Brothers head and shoulder pattern formation on the stock chart. If price breaks $42.00 to the downside, Toll Brothers will likely fall to a final head and shoulder target of $30.00. This Toll Brothers head and shoulder pattern is a classic bearish setup that can give shorts an edge on major profits. In addition, for patient investors, a buy can likely be initiated at the $30.oo price point once the Toll Brothers head and shoulders has hit target. A solid bounce is likely.
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