Facebook (FB) came across the bullish engulfing scan twice in the last four days. The stock fell to support last week and then formed a big bullish engulfing pattern on high volume. After a pullback on Friday-Monday, the stock opened weak on Tuesday and closed strong to form another bullish engulfing.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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