Sydney Airport forms bearish "Inside Bar" chart patternAug 28,...

Sydney Airport forms bearish "Inside Bar" chart pattern
Aug 28, 2020

Recognia has detected an "Inside Bar (Bearish)" chart pattern formed on Sydney Airport (SYD:ASX). This bearish signal indicates that the stock price may fall from the close of5.51.

Tells Me: The balance between buyers and sellers, recently dominated by the bulls, is evening out. We may see lower prices ahead. An Inside Bar develops during a strong uptrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bulls and increasing in power for the bears.

This bearish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.

Source: Bell Potter.

I take no notice of this voodoo, but some may find it interesting, or not! Not advice at all.