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!

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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