EQ Labs Inc (EQLB)

[HobbyTrader]

Americanbulls.com maintains Buy-If, but volume into close Friday indicates that may be turning.

The BUY-IF alert is still valid. A confirmation today however is denied. The pattern is not rejected yet since the day was not a long black candlestick one. The market is currently testing your patience. Continue to do your homework by digesting all available information around.

The final judgment about the evolving pattern waits the next session. Either the alert will be confirmed by one of the valid confirmation criteria or the bullish alert will be void and null. It will also be seen if we erred badly in the previous SELL signal. So a warning is in order. A confirmation in the next session means that the signal failed. This failure amounts to missing a significant bullish opportunity. You can, however, still ride on a back wagon of the bullish train by following the guidelines below.

It is still your duty to check the confirmation criteria when the next session opens. Reminding briefly, a white candlestick with an upward gap, a white candlestick closing above previous close and a long white candlestick with a big downward gap is sufficient to confirm the BUY- IF alert though with a one day delay. Go long in any of these cases by respecting the benchmarks. In any other case, simply ignore the BUY-IF alert. The next session is the last chance we allow for confirmation. A confirmation failure renders the assumed bullish pattern totally invalid and starts the process of searching for a new pattern.

Do not consider any new short positions given the bullish alert and the recent bullish momentum. The short sellers must cover their positions to prevent further losses, especially if the market confirms the BUY-IF signal