There are two different alarming signs in 2 different time frames:
Daily chart: Possible head and shoulders..!
Weekly chart: Bearish Engulfing
The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.(Investopedia)
In some references, the reliability of the Head and shoulder pattern is around 80-85%.
A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large down (black or red) candlestick that eclipses or "engulfs" the smaller up candle. The pattern can be important because it shows sellers have overtaken the buyers and are pushing the price more aggressively down (down candle) than the buyers were able to push it up (up candle).(Investopedia)
In some references, the reliability of the Bearish Engulfing pattern is around 79% .
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
reference article:
https://www.investopedia.com/terms/h/head-shoulders.asp
https://www.investopedia.com/terms/b/bearishengulfingp.asp
Daily chart: Possible head and shoulders..!
Weekly chart: Bearish Engulfing
The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.(Investopedia)
In some references, the reliability of the Head and shoulder pattern is around 80-85%.
A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large down (black or red) candlestick that eclipses or "engulfs" the smaller up candle. The pattern can be important because it shows sellers have overtaken the buyers and are pushing the price more aggressively down (down candle) than the buyers were able to push it up (up candle).(Investopedia)
In some references, the reliability of the Bearish Engulfing pattern is around 79% .
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
reference article:
https://www.investopedia.com/terms/h/head-shoulders.asp
https://www.investopedia.com/terms/b/bearishengulfingp.asp
4224 out of 5303 stocks traded today are trading at lower prices compare to yesterdays close! 79.65%