Candlesticks - Bearish Engulfing Interactive Brokers
Published on Tuesday, 18 September 2012 05:00 Written by TradersHuddle Wire
New York, September 18th (TradersHuddle.com) - Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) ended the trading session lower by $0.17 or -1.17% from its previous close. Interactive Brokers' price action formed what is considered to be a bearish engulfing candlestick chart pattern.
Interactive Brokers Group, Inc. (NASDAQ:IBKR) is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, futures, and foreign exchange instruments.
Interactive Brokers' current stock range is determined by calculated support defined at $13.20 and by the resistance level at $14.44, which should be used by traders planning their next move.
If traders want to establish a position in Interactive Brokers, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Interactive Brokers for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:
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