Sunday, February 24, 2013 3:12:00 PM
CBIS Chart.......Bullish Harami & High Wave candlestick patterns formed on Fri......
High Wave is a type of candlestick characterized with either a very long upper or a lower shadow. It has only a short real body. A group of these patterns may signal a market turn.
The High Wave just like long legged doji shows that there is a great amount of indecision in the market. This pattern is formed when prices trade well above and/or below the day's opening price, but then the price closes almost at the same level as the opening price. It means that the end result is not different from the initial open despite the whole excitement and volatility during the day. The pattern implies a loss of sense of direction and that there is a great amount of indecision in the market. A group of high wave candlesticks signal a possible reversal in the market.
Bullish Harami Pattern is characterized by a small white real body contained within a prior relatively long black real body. “Harami” is an old Japanese word for “pregnant”. The long black candlestick is “the mother” and the small candlestick is “the baby”.
CBIS closed right @ MA(20)/Middle Bollinger Band @ 0.072......MA(20) support was tested 3 days in a row.....in order for CBIS to remain in an uptrend it must hold MA(20) support.......
The Lower Tail on Fri.'s candle almost hit MA(50) @ 0.061......the Upper Tail broke through MA(10) @ 0.078.....
These are the 3 most important moving averages for CBIS @ the present moment.......CBIS must hold MA's(20 & 50) support and must close above MA(10) to head higher.......
If CBIS can close above MA(10) the next resistance level is the Upper BB @ 0.099.....MA's(50, 100, 200) are lined up below MA(20) for support on a pullback........
CBIS on close above MA's(10 & 20) & confirm the Bullish Reversal pattern radar.......$$$
High Wave is a type of candlestick characterized with either a very long upper or a lower shadow. It has only a short real body. A group of these patterns may signal a market turn.
The High Wave just like long legged doji shows that there is a great amount of indecision in the market. This pattern is formed when prices trade well above and/or below the day's opening price, but then the price closes almost at the same level as the opening price. It means that the end result is not different from the initial open despite the whole excitement and volatility during the day. The pattern implies a loss of sense of direction and that there is a great amount of indecision in the market. A group of high wave candlesticks signal a possible reversal in the market.
Bullish Harami Pattern is characterized by a small white real body contained within a prior relatively long black real body. “Harami” is an old Japanese word for “pregnant”. The long black candlestick is “the mother” and the small candlestick is “the baby”.
CBIS closed right @ MA(20)/Middle Bollinger Band @ 0.072......MA(20) support was tested 3 days in a row.....in order for CBIS to remain in an uptrend it must hold MA(20) support.......
The Lower Tail on Fri.'s candle almost hit MA(50) @ 0.061......the Upper Tail broke through MA(10) @ 0.078.....
These are the 3 most important moving averages for CBIS @ the present moment.......CBIS must hold MA's(20 & 50) support and must close above MA(10) to head higher.......
If CBIS can close above MA(10) the next resistance level is the Upper BB @ 0.099.....MA's(50, 100, 200) are lined up below MA(20) for support on a pullback........
CBIS on close above MA's(10 & 20) & confirm the Bullish Reversal pattern radar.......$$$
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