Trader-Dan

#JSEFFA - Caution to the long side

JSE:FFA   None
- The stock closed on its low with some volume whilst the RSI is overbought territory.

- Perhaps a pullback to the up sloping 20ema is in order.

- I would be cautious here to add any longs.

A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large down (black or red) candlestick that eclipses or “engulfs” the smaller up candle. The pattern can be important because it shows sellers have overtaken the buyers and are pushing the price more aggressively down (down candle) than the buyers were able to push it up (up candle).

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