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There was an uptick in the number of bearish candlestick reversals on Monday afternoon. As the screen shot below shows, there were 67 bearish engulfing patterns as of 1:51PM ET. There were also 13 dark cloud patterns and over 100 harami, which are like inside days. Chartists can click on the number to see a list of stocks with these patterns.
Electronic Arts (EA) came under strong selling pressure the last three days with consecutive long black candlesticks. As this chart now stands (11:48 ET), a bearish three black crows pattern is taking shape. The stock is short-term oversold already, but the trend line and support break are medium-term bearish.
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