A bitter/sweet day for MNS on the chart; certainly good to be up...

A bitter/sweet day for MNS on the chart; certainly good to be up over 10% from yesterday, but did longs take the opportunity to sell out today?

Bearish upthrust bar closing on the lows with heavy volume never good to see with news thats meant to be bullish (especially near a trend line), but stranger things have happened. Bulls from yesterday up 10.7% due to bullish gap up open, bears like me won the afternoon (personally happily 10.4% up on todays 51.5cent short top up).  

Next week will determine who's joy continues. Chart trend suggests MNS is in a bear trend, so I'll continue managing my position accordingly until I see the chart change pattern. These trends can often continue for longer than people anticipate.

Will that gap fill? Will VW announcement come next week? Will Nachu be financed?

I've highlighted the bearish pin bars/upthrusts/shooting star bars below. These bars are also referred to by some as "Bull Traps" or "Bearish Reversal Patterns" by some sources and as you can see there in front of your eyes they do seem to have in the past been uncannily accurate reversal signals on the MNS chart:



People can read more about todays bar on these sites:

http://stockcharts.com/school/doku....nalysis:candlestick_bearish_reversal_patterns

https://marketrealist.com/2014/12/inverted-hammer-shooting-star-candlestick-pattern