Don't Ignore This Chart!

Dark Cloud Cover for ODFL

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Ditc20090130 ( Click here to see a live version of this chart.)


The Dark Cloud Cover candlestick pattern occurs when a stock that is in an uptrend has a tall hollow candle that is followed by a tall filled candle that extends below the mid-point of the first candle.

A Dark Cloud Cover pattern signals short-term weakness for the stock.  The idea is that investors who were excited by Thursday's big rise are now disheartened by today's lack of follow through - thus making another rally unlikely in the near term.

Chip Anderson
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