EW Price Action Update
East West Banking Corporation
EW is forming a Bearish Engulfing candlestick pattern after the recent sharp rally. It's a potential sign of a stalling uptrend and may signal a possible pullback or consolidation to follow.
*In this condition, some traders who are after short term gains may choose to sell to protect the profit from recent advancement.
Trading Plan
- Avoid for now.
- If in a trade already, take some profit or scale down position. Profit run the rest of the position with trailing stop.
EW is forming a Bearish Engulfing candlestick pattern after the recent sharp rally. It's a potential sign of a stalling uptrend and may signal a possible pullback or consolidation to follow.
*In this condition, some traders who are after short term gains may choose to sell to protect the profit from recent advancement.
Trading Plan
- Avoid for now.
- If in a trade already, take some profit or scale down position. Profit run the rest of the position with trailing stop.
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