Are the Bears Taking Control over Korn/Ferry?

Published on Wednesday, 01 February 2012 04:51 Written by Christian Paolinetti

New York, February 1st (TradersHuddle.com) - Shares of Korn/Ferry International (NYSE:KFY) ended the trading session lower by $0.53 or -3.07% from its previous close. Korn/Ferry's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Korn/Ferry International (NYSE:KFY) is an executive search firm. The Company provides its services on a retained basis and serves the recruitment needs of its clients from middle to executive management.

Korn/Ferry's current stock range is defined by calculated support defined at $16.59 and by the resistance level at $18.75, which should be used by traders planning their trades.

Traders wanting to establish a position in Korn/Ferry stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Korn/Ferry shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: