Hello guys, there is a nice bullish harami pattern as we can see in the chart and the stock stops perfectly at support so i expect a reversal tomorow on the upside.
So what happen is that the stock gaps up from the earnings and continue to move higher after that so the buyers are making money from the prior gap. Next, we see a retracement from that gap so people sell their profits and here we are after a three down days the stock gap up this morning and finished with a small body which the first red candle engulfs the candle of today and a harami pattern is form. This shows that people on the downside are loosing strenght and some of them start to get out so we are in a great position for a reversal and im going to buy if the stock go to 108.21. The MA10 is also a great support for the stock so i am expecting a bounce tomorow.
So what happen is that the stock gaps up from the earnings and continue to move higher after that so the buyers are making money from the prior gap. Next, we see a retracement from that gap so people sell their profits and here we are after a three down days the stock gap up this morning and finished with a small body which the first red candle engulfs the candle of today and a harami pattern is form. This shows that people on the downside are loosing strenght and some of them start to get out so we are in a great position for a reversal and im going to buy if the stock go to 108.21. The MA10 is also a great support for the stock so i am expecting a bounce tomorow.