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Strategies & Market Trends : Candlestick Charting--The unknown indicator

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To: Mitchell Jones who wrote (567)10/10/1997 7:14:00 AM
From: Iceberg   of 1589
 
>Ligand (LGND) produced a nice "Bullish Engulfing" pattern today

>Should see a nice move from here.

Mitch,

Just a minor note of caution. IMHO, the bullish engulfing pattern isn't as positive as it otherwise might be because there seems to be short-term resistance in the form of "tweezer tops" at 17 7/8 on the 8th and 9th. Therefore, I wouldn't read too much into this particular bullish engulfing pattern. What do you think?

Ice
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