I came across this stock today in my scans and my gosh, it could be the single worst and most bearish stock chart out there right now.
It is Bank of the Ozarks (OZRK) and it is U to the G to the L to the Y, UGLY.
Here it is on the daily chart:
Once this stock breaks below $36, it is over. The pattern is textbook, and the head and shoulders is so well-defined and so finely crafted, you would have thought Michelangelo put this chart together himself.
Now check it out on the weekly and see what kind of profit target we are talking about here:
That’s right, a textbook target for a textbook pattern would suggest this stock could roll over and down into the tens before finally finding some support.
And if this market is in a major topping pattern as well, then I’m afraid that OZRK will find the teens in short order.
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