Intellicell Biosciences Inc (fka SVFC)

[ospreyeye]

SVFC Chart: Bullish Morning Star reversal pattern formed today........This is a three-candlestick pattern signaling a major bottom reversal.

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=3101

BULLISH MORNING STAR

Definition
This is a three-candlestick pattern signaling a major bottom reversal. It is composed of a black candlestick followed by a short candlestick, which characteristically gaps down to form a Star. Then we have a third white candlestick whose closing is well into the first session’s black body. This is a meaningful bottom pattern.

Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. We see a black candlestick on the first day.
3. Then, we see a short candlestick on the second day that gaps in the direction of the downtrend.
4. A white candlestick is observed on the third day.

Pattern Requirements and Flexibility
The Bullish Morning Star starts with a black candlestick and it should continue with a short candlestick (white or black) that opens with a gap down. The white candlestick appearing on the third day should open at or higher than the lowest level of the body of the second candlestick, and it should close well into the black candlestick that appears at the beginning of the pattern. The extent of how high this candlestick must close is defined according to the other candlesticks belonging to the pattern. The third day’s closing must reach the midpoint between the first day’s opening and the second day’s lowest body level.

Trader’s Behavior
A downtrend is in progress and the black candlestick confirms the continuation of the downtrend. The appearance of the short candlestick that causes a gap indicates that bears are still pushing down the price. However, the tight price action on the second day between the open and the close shows indecision. The third day is a white body that moves into the first day’s black body. A significant trend has occurred.

Buy/Stop Loss Levels
The confirmation level is defined as the last close. Prices should cross above this level for confirmation.
The stop loss level is defined as the lower of the last two lows. Following the BUY, if prices go down instead of going up, and close or make two consecutive daily lows below the stop loss level, while no bearish pattern is detected, then the stop loss is triggered.

Monster close above MA(100) @ 0.0066 resistance on Thurs.........that is the KEY level to turn into support.........SVFC is riding in the very bullish Upper Bollinger Band channel between upper BB @ 0.0074 resistance & middle BB/MA(20) @ 0.0039 support.........as long as SVFC continues trading above the Middle BB the uptrend should continue.........as this chart shows MA(7) @ 0.0056 & MA(10) @ 0.0053 have been solid support during the uptrend.........

DMI w/ADX set up for a Bullish Crossover.........MACD & TRIX look very bullish,.........Fast Sto, Full Sto, RSI & Wm%R all have juice to run...........massive volume on Thursday confirmed the Bullish pattern........always a good sign for the bulls.......there is an upper wick on Thurs.'s candle, so there was some HOD(high of day) profit taking........the key now if you are an SVFC bull is turn MA(100) into support and break Penny Land resistance.........0.009 HOD on Thurs.........Penny Land is officially on deck!.........

SVFC on penny land radar............$$$