Bearish Harami seen on TA’s weekly chart

After the recent consecutive rallies of TA which brought the price to as high as 2.04, it has shown a bearish candlestick pattern called Bearish Harami. This pattern is a sign of disparity in the stock’s health. The stock is characterized by an upward trend and a bullish bias, and there is heavy buying indicated by a green body. However, the next week prices open lower and stay in a small range throughout the week, closing even lower, but still within the previous week’s body.

Immediate support will be at 1.75 and absence of a bullish reversal candlestick at that level will bring the price even lower. Remember that based on Ichimoku system, TA is still in a downward trend. The big spike may have just ended. Protect your profit while you still can.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

One Response to Bearish Harami seen on TA’s weekly chart

  1. […] Bearish Harami seen on TA’s weekly chart last week wasn’t confirmed by the bulls didn’t provide a strong presence thus, we are […]

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