Here’s Why You Should Pay Attention To An Inside Bar
After pulling back from
the July 23 low, SLM Corp (SLM) closed slightly below the 50% Fib level
yesterday. Notice the stock formed a harami bar. As
you know, the harami tends to appear just before a reversal.
09:47:14
Daily Setup Alert
SLM Corp (SLM) is now trading below
yesterday’s low after failing to move above its 50% Fib level (6/28 high-7/23
loe). SLM is at 38.09, down 0.23.
As you can see below, the stock paused by forming an inside bar. Decreasing
volume was indicating diminishing buying pressures. Not just the 50% Fib level,
but the 200-day EMA looks intimidating to the buyers.
Remember, harami also signals the beginning of a trading range.
T.Kamada