Weekend Charts: Google & Apple Monthlies Courtesy of @berkek
- Posted by ppearlman
- on October 20th, 2012
Especially these days, traders and investors alike can get caught up in the very near term during the trading week as price behavior shifts abruptly.
The weekend is a great time to back up the lens and take a longer term view while markets are closed and no decisions need to be made right here and right now.
And while the month is not quite over, we do get a sense of what October might portend.
First, Google where a “textbook bearish engulfing” is taking shape.
Next, the Apple monthly, where “An evening star is taking shape” and as @berkek adds, ”time to move out.”
I would only add that the second candle in this pattern, September, also looks like a gravestone doji to me…
Neither of these patterns are confirmed until the end of the month…
For more on these candlestick patterns:
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Phil is the executive editor of StockTwits and an investor in the company. He is a partner at Social Leverage, LLC and makes early stage investments in web based companies. (More)