IBM Rare Tri-Star Reversal Pattern

By | July 18, 2014

If IBM closes near its current level, the price action on the daily chart will form a rare tri-star candle reversal pattern. On Monday, I noted the stock was breaking out of what looked like a bullish flag pattern, and measured a little less optimistically it reached the target price on an intraday basis. Again, a third doji candle is required to form the tri-star and here is a detailed explanation of the three candle formation.


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