Bearish Engulfings and Dark Clouds Litter the Pre-defined Scan Page

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

With a strong open and weak close on Monday, hundreds of stocks and ETFs formed either dark cloud patterns or bearish engulfing patterns. The chart below shows Home Depot (HD) forming a dark cloud near resistance and with the Stochastic Oscillator overbought. A move below 80 in the Stochastic Oscillator would signal a downturn in momentum. You can read more about candlestick patterns in the ChartSchool or see more scan results on the predefined scan page.

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Arthur Hill
About The Author:

Arthur is Chief Technical Strategist at TrendInvestorPro.com. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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