AMERICAN BULLS: CONFIRMATION:SELL, LAST TATTERN:BEARISH ENGULFING
Our system’s recommendation today is to SELL. The BEARISH ENGULFING pattern finally received a confirmation because the prices crossed the confirmation level which was at 0,0000, and our valid average selling price stands now at 12,4956. The previous BUY recommendation was issued on 06/08/2014, 13 days ago, when the stock price was 10,6899. Since then UNTD has risen by +16,89%.
We may be at a market top or at the start of a correction. The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. Today’s candlestick has a black body and its close is below the confirmation level. The bearish pattern that was previously identified is finally confirmed and a SELL signal is generated. You still have time to follow the signal and then you may start checking other securities for a bullish bet.