Inside this article you will find the companies that showed one of the most important candlestick pattern today: Key Buy Pattern
What is a Candlestick Pattern?
A candlestick pattern is a movement in prices shown graphically on a candlestick chart that some believe can predict a particular market movement.
Key Buy Pattern
The Key Buy Pattern is a simple configuration useful to continue a consolidated positive trend. It is composed by:
- Strong positive trend
- Momentary break formed by 3 candles with decreasing highs
- Positive candle that breaks the high of the previous candle (stop-loss placed under this candle)
After breaking the third candle high, the price should follow to the main positive trend.
None of the patterns below guarantee success because there may be false breakouts. The purpose of this analysis is purely informative.
Today’s Key Buy Patterns
Cigna Corp (CI)
Illinois Tool Works Inc (ITW)
UnitedHealth Group Inc (UNH)
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This analysis shows the Key Buy patterns of the Day. If you are interested in the other types of chart patterns click here.
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*Charts by tradingview.com
DISCLAIMER: The information in this blog post represents my own analysis/opinions and does not contain a recommendation for any particular security or investment. Stocks trading involves substantial risk of loss and is not suitable for every investor. Trade responsibly.