Stock Chart Patterns featuring Recognia® for your iPad Learn more

iShares Global 100 ETF forms bearish "Flag" chart pattern
Apr 23, 2012

Recognia has detected a "Flag (Bearish)" chart pattern formed on iShares Global 100 ETF (IOO:NYSE). This bearish signal indicates that the stock price may fall from the close of $61.15 to the range of $56.80 - $57.60. The pattern formed over 9 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.


Recognia Alert Wire content is generated at market close by Recognia Inc. ( 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.

The information contained herein is provided as is and Recognia does not warrant the accuracy or the use of the information for any purpose. Recognia reserves the right to change the information and/or the method of its presentation or analysis at any time. This information may not be construed as investment advice or trading recommendations.

Technical Event® and Recognia® are registered trademarks of Recognia Inc.

Recognia products and services are protected under U.S. Patent Nos.: 6,801,201; 7,469,226; 7,469,238; 7,835,966; and 7,853,506; and corresponding foreign patents.