A Rare Bearish Candlestick Pattern Takes Shape in Chipotle (video)
Momentum darling Chipotle (CMG) has come under selling pressure with eight filled candlesticks in a row. A filled, or black, candlestick forms when the close is below the open, which indicates selling pressure after each open. Should today's long filled candlestick remain, a rare three black crows pattern would take shape. As the name suggests, these patterns form with three long filled candlesticks. In addition, notice that the open for the last two candlesticks is above the prior close and CMG sold off after each strong open.
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