Ann: Chevron awards EPCM and fabrication contract, page-4

figures.... no way have i closed my short position IN WOR. As per my numerous posts over past few months i remain convinced the engineering macro is weak and WOR is struggling to win contracts.

Tonight a chartist friend of a friend sent me this. It seems logical except i expect SP to fall well below $8.50. I just wish i'd had more cash to have shorted more shares when they were around $10.30.

WorleyParsons Ltd forms bearish "Double Top" chart pattern
Feb 09, 2017
Recognia has detected a "Double Top" chart pattern formed on WorleyParsons Ltd (WOR:ASX). This bearish signal indicates that the stock price may fall from the close of 9.36 to the range of 8.50 - 8.70. The pattern formed over 39 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached a top, after failing to break through a resistance level and ultimately breaking downward in a sign of reversal to a new downtrend. The Double Top pattern forms during an uptrend as the price reaches two distinct peaks at roughly the same price level. Volume reflects a weakening of the upward momentum, tending to diminish as the pattern forms, with some pickup at each high, less on the second high. Finally the price breaks down below the lowest low to confirm the bearish signal.
This bearish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.