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iShares S&P 500 Value ETF forms bearish "Flag" chart pattern
Apr 20, 2012

Recognia has detected a "Flag (Bearish)" chart pattern formed on iShares S&P 500 Value ETF (IVE:NYSE). This bearish signal indicates that the stock price may fall from the close of $63.27 to the range of $59.30 - $60.00. The pattern formed over 8 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: The price seems to be resuming a sharp decline after taking a brief pause. A bearish Flag pattern occurs during a dynamic market decline, representing a brief pause as the market "catches its breath" before running off again in the same direction. The pattern consists of two parallel trend lines, often sloping upward against the prevailing downtrend, and is confirmed when the price breaks down through the lower boundary to resume the decline.

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


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Recognia Alert Wire content is generated at market close by Recognia Inc. (www.recognia.com). Recognia has developed proprietary technology for chart pattern recognition and automated interpretation based on the standards of technical analysis. Recognia investment research products scan all financial instruments across covered exchanges and generate news alerts for those that have formed one of more than 25 patterns.

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