12 Bearish Continuation Patterns – FSLR, BIDU, AAPL, etc.

Blain Reinkensmeyer
Posted on Thu 23rd Oct, 2008 07:07:56 PM

The market rallied late today to close in the green (less the NASDAQ -.73%) and is still barely holding onto dear life as it tries to keep its support intact. This highly volatile sideways action the last two weeks has in turn created some hard to miss bear flags.

Most of these technical setups are continuation patterns and thus should break to the downside in favor of the bears (unless we see another 10% rally of course). Most of these breaks should trigger another sell off of 5 – 10% atleast from current levels.

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Charts:

  1. First Solar (FSLR)
  2. Baidu.com (BIDU)
  3. Google (GOOG)
  4. Mosaic (MOS)
  5. Apple (AAPL)
  6. LDK Solar (LDK)
  7. Yahoo (YHOO)
  8. Massey Energy (MEE)
  9. NYSE Euronext (NYX)
  10. Dryships (DRYS)
  11. Alpha Natural Resources (ANR)
  12. James River Coal (JRCC)

Charts numbered (click to view full chart):

1. 2. 3.

4. 5. 6.

7. 8. 9.

10. 11. 12.

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More on this topic (What's this?)
First Solar (FSLR) Analyst Ratings: Buy, Buy, Buy (Green Stocks Central, 10/30/08)
Can’t Buy New Mac? Buy Apple Stock (The Wild Investor, 10/15/08)
Hapoalim Securities Starts First Solar (FSLR) With Sell Rating, $90 Target (Green Stocks Central, 10/31/08)
Read more on First Solar, Baidu.com, Apple at Wikinvest

6 Responses

  1. 1
    the stock speculator - October 23rd, 2008 at 8:41 pm

    Had an awesome short on BIDU today. Was hoping for it to waltz back up to its 50 day, but never happened, so jumped in first tick this morning. Anyway, great write up and mark up of the charts.

  2. 2
    rhinodude47 - October 23rd, 2008 at 11:51 pm

    Great post Blain, loving these charts! Keep it up :mrgreen:

  3. 3
    rhinodude47 - October 23rd, 2008 at 11:53 pm

    The fall on LDK looks pretty bad today, heavy volume too, wouldn’t want to be holding long the alternative energy stocks right now…

  4. 4
    Matt - October 24th, 2008 at 12:42 am

    Page bookmarked, nice one.

    Japan is crashing right now in live trading and the S&P futures are getting hit as well. May see some stocks slumping tomorrow.

  5. 5
    The Stock Speculator - October 24th, 2008 at 11:33 am

    what a crazy day. I wonder if we sell off into the close?

  6. 6
    Blain Reinkensmeyer - October 24th, 2008 at 2:56 pm

    The See-saw action continues, the close is going to be critical for the market. It seems though that the bears should win this one based on how Japan and the UK, etc. closed…

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