OAAX OSLO
EURONEXT EXPAND ALL-SHARE INDEX GR
SELL
Close
109.63
Prev.Close
113.82
Change
-4.1900
Change%
-3.68%
BEARISH ENGULFING
Sold at
111.97
Open
113.82
High
113.82
Low
108.76
Close
109.63
Gain%
-2.09%
Signal History
Pattern & Confirmation Chart for the Last 6 Months
Our system’s recommendation today is to SELL. The BEARISH ENGULFING pattern finally received a confirmation because the values crossed below the confirmation level which was at 112.34, and our valid average selling value stands now at 111.97. The previous BUY signal was issued on 28.11.2023, 9 days ago, when the index value was 110.80. Since then OAAX has risen by +1.06%.
We may be at a market top or at the start of a correction. The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. Today’s candlestick has a black body and its close is below the confirmation level. The bearish pattern that was previously identified is finally confirmed and a <SELL signal is generated. You still have time to follow the signal and then you may start checking other securities for a bullish bet.
This pattern is characterized by a large black body engulfing a preceding smaller white body, which appears during an uptrend. The black body does not necessarily engulf the shadows of the white body but totally engulfs the body itself. This is an important top reversal signal. more...
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