Hubert Senters here.
I’m not really sure what the patterns called. But I know it’s not really a good one. When you see a gap up I think it’s called abandon the baby with a buy force. Something like that. It’s been years since I learn how to do candle sticks. But I just know the pattern is not good when you see this. You can Google it if you want to see what the proper name of this.
When you have a gap up situation. It’s an island reversal. Just figure it out from memory. An island reversal. If you go up here you get a gap. And then it goes the opposite direction. Island reversals can be powerful so be careful. It’s probably going to drop probably below the cloud if it was my guess.
It would be below $75 or maybe even below $70. But pay attention to it. It is a fairly strong pattern. You don’t see a ton. It does show up from time to time. Island reversal where it gaps up and then goes the other direction.
It’s almost like it’s a politician. No pun intended. So check it out. Hasbrow potential bracket trade. An island reversal could potentially go a lot lower. HAS is the stock symbol and speaking of politicians regardless if you’re a republican, a democrat or an independent. Make sure registered in both and get up there and support your candidate.
Good luck. Hope it helps. See you on the next video.
Hubert.
