Replies to post #1832 on CNBX Pharmaceuticals Inc (CNBX)

[612rat]

Watching for 1.05 Break. $CNBX

[NoMoDo]

I was just looking at the chart today and noticed a shooting star candlestick followed by a pretty authoritative red candle. Since we are so close friends, I thought I'd bring this to your attention.

In technical analysis, a shooting star is interpreted as a type of reversal pattern presaging a falling price. The Shooting Star looks exactly the same as the Inverted hammer, but instead of being found in a downtrend it is found in an uptrend and thus has different implications.

Presaging means predicting a falling price.

As any tech guy will tell you, always wait for the next candle to get confirmation. That last candle was pretty darn authoritative. This stock is headed for disaster.

Good luck everyone.