Despite yesterday's sharp decline, a number of stocks bucked the selling pressure by gaining on the day or forming bullish candlestick patterns. Cornerstone OnDemand ($CSOD), which debuted on March 17th, formed a bullish engulfing and gained on Wednesday. Follow through above resistance would confirm this pattern.
Click this image for a live chart
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. 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
