Don't Ignore This Chart!

LEAP forms bullish engulfing

Direct from the StockScans candlestick page, Leap Wireless (LEAP) formed a bullish engulfing on big volume Friday. A bullish engulfing forms with a filled black or red candlestick and longer white candlestick. The white candlestick's open is below the prior close, but the stock rallies to close above the prior open. High volume reinforces the pattern.

100119leap Click this chart for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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