The massive move-up in crude oil on Monday created a new dynamic for this in-the-news market. The move to two-month highs completed one of our favorite major technical formations, the double bottom bounce..
Akamai is a well known web content distribution company with little competition. However, the short term prospect for this strong company looks to be bearish. Double Top Formation Revisited:
This is the 12 screen in the series Japanese Candlestick Trading: Stock Screens for 15 Candlestick Patterns
Signal Type: Reversal
Whole Foods Markets Inc is looking like a very strong buy here. We see a rising three methods Japanese Candlestick Pattern, combined with a bullish flag. The three “inside” candles came on diminishing volume, with day 1 and day 5 coming on strong volume.
