Piper Jaffray: A new technically based Investment Idea

Piper Jaffray was downgraded today, but it has set up potential bottoms on multiple time frames.    

The risk reward ratio is stellar here with a reasonable stop area of 30.  If the markets push to new all time highs, we could be looking at a significant breakout above 36.5 and an initial target of the neckline at ~42.

At the end of the day this could be a 3+ year head and shoulders bottom and we may have a double from these levels.  The risk reward doesn't get much better than this.