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.

image

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.