Our system’s recommendation today is to SELL. The BEARISH HANGING MAN pattern finally received a confirmation because the prices crossed the confirmation level which was at 48.1050, and our valid average selling price stands now at 48.0550. The previous BUY recommendation was issued on 5/8/2013, 12 days ago, when the stock price was 47.2600. Since then IBN has risen by +1.68%.
The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. The bearish pattern that was previously identified is finally confirmed and a SELL signal is generated. You still have time to follow the signal and then you may start checking other securities for a bullish bet.