Bearish Engulfing Candle Signals More Pain Ahead For Weyerhaeuser
Despite breaking out of an ascending triangle, Weyerhaeuser seems poised for some short term pain after a bearish engulfing candle. The bearish pattern engulfed 12 of the previous trading days. This pattern has a 60% success rate. If WY continues to hold its uptrend, even after this bearish engulfing candle, $37.00 is an all-time high for the stock that may be tested for a second time. Short term bearish, longer term bullish.