Bearish Engulfings Mark Resistance for JNPR
Two big bearish engulfing patterns solidify resistance around 28-28.5 for Juniper Networks (JNPR). JNPR first established resistance at 28 with a doji. A few weeks later, the stock opened strong and closed weak to form its first high-volume bearish engulfing. After a pullback and second attempt at 28.5, the stock again formed a bearish engulfing with even higher volume. This shows lots of supply around 28-28.5. Read more on candlestick reversals in the chart school.
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