Don't Ignore This Chart!

Bearish Engulfing Scan Lights Up


With a strong open and weak close on Wednesday, hundres of stocks made the cut for the bearish engulfing scan (177 Nasdaq and 183 NYSE). The chart below shows Google ($GOOG) breaking wedge support last week and forming a bearish engulfing after a three day bounce. You can find more candlestick patterns on the Predefined Scans page.

Click this image for a live chart

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
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus