Don't Ignore This Chart!

Yelp Traces out a Rare Three Black Crows Pattern


Yelp ($YELP) came across the Three Black Crows scan on Tuesday. It all started with a black candlestick three days ago (Friday). The stock then opened above the Friday's close on Monday and sold off to form another black candlestick. The stock opened above Monday's close on Tuesday and again sold off to form the third long black candlestick. This is a bearish reversal pattern that does not require confirmation.

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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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