Last week an alert went out to buy PFIE on a breakout from the Cup & Handle Pattern. As you can see from the daily candle chart (above) the stock rallied exactly like we thought it would, however, yesterday a bearish engulfing pattern showed up at a resistance point. 80% of the time a stock will drop after a bearish engulfing pattern shows. Once you have exited the position you can take the money and get into the next trade, which I’ve listed for you on the next page.
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