We will try to predict the direction of the Intel stock price(last price is $19.47) for the coming days by using the power of the Candlestick Japanese Charting Techniques. Can the Candlestick Patterns help us answer the following question: Is the pullback of the Intel stock price that began on Jan 15, 2010 already at the bottom ? Please find the answer below:
1) Candlestick Japanese Bearish continuation pattern for Intel(INTC)
From Jan 29 to Feb 04 2010, the candlestick Japanese charting of Intel prices formed a bearish continuation pattern that was unconfirmed - by the long bullish candle that closed higher than the previous day - on the Feb 05, 2010 which was the next trading day following the apparition of the candle continuation pattern.
2) Candlestick Japanese Bullish Harami for Intel (INTC)
A candlestick Japanese bullish Harami - a bullish reversal pattern, immediately follows the previous candlestick continuation pattern.
3) Confirmation for the Bullish Harami
Because of the candlestick divergence caused by the apparition of a bearish continuation pattern that is immediately negated the next day by a bullish harami in an oversold condition we can predict the start of an uptrend if the bullish signal is confirmed the next trading day.
That's to say if on the next day the price opens higher compared to the previous price and closes above the previous close then the bullish reversal pattern is confirmed
0 comments:
Post a Comment