The chart above shows how
Onlife Capital Advisors took a negative turn after the
SHORT
signal which was issued on 12/2/2013. Since then, the stock price fell
down by 8.25%. There are by now decisive hints casting doubts about the
continuation of the downbeat mood. Candlestick system detected a
BULLISH ENGULFING
pattern, which may be a sign of a market sentiment switching from
bearish to bullish. This pattern deserves utmost attention, because the
SHORT positions must immediately be covered and long positions must be taken, in case of a confirmation. The
BULLISH ENGULFING
pattern, if confirmed, indicates an upside potential of 5.63%. It may
turn out to be a good opportunity for bottom fishers, but patience
first! Do not forget that confirmation is the prerequisite for any
further move!
A sudden bearish attack caught us off guard without the forewarning of a bearish pattern. We may be on the verge of conceding the death of bullish case and getting ready to cut our bullish bet. Our previous BUY signal didn't work out. This happens. Sometimes, candlestick patterns falter. We owe you an apology for that but this is exactly what we have the stop loss mechanism for. The bearish stop loss of the last bullish pattern is triggered today. The current share price is already below the stop loss level, but the signal is still suggesting to STAY LONG. The SHORT signal requires a black body whose close is below the stop loss level and the chance of detecting such a black candlestick is very high.
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