iShares Russell 2000 Growth ETF
forms bearish "Hanging Man" chart pattern
Recognia has detected a "Hanging Man" chart pattern formed on iShares Russell 2000 Growth ETF (IWO:NYSE). This bearish signal indicates that the stock price may fall from the close of $200.59. Tells Me: The price may have reached the top of the recent uptrend, showing it has been susceptible to selling pressure. The Hanging Man appears during an uptrend, displaying a long lower shadow with a small real body at the top of the range. The price may have reached a top and due for a reversal to the downside. This bearish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.