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Bullish engulfing?

 
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PostPosted: Wed Dec 01, 2004 1:39 pm    Post subject: Bullish engulfing? Reply with quote

IMOS looks pretty good, could move up to fill gap down from 3 weeks ago.
or could counter resistance at the 50MA. Is my analysis correct?
any thoughts.
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PostPosted: Wed Dec 01, 2004 2:05 pm    Post subject: IMOS Reply with quote

Yes the 50 day moving average looks like a logical target, however note that there really is not a candlestick reversal signal forming here.
This is usually an indication that the uptrend won't be as powerful as a candlestick reversal signal
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