Leapfrog Enterprises Inc. (NYSE: LF) has made it as the chart review of the day with more expected upside ahead on top of recent gains. In candlestick charting, this is based on the The Fry Pan Bottom/J hook pattern combination. Our technical analysis partner is Candlestick Forum and you may gain immediate access to training videos and more chart analysis similar to this and after the successful IBM call from early this week.
Today’s chart analysis noted, “The Fry Pan Bottom/J hook pattern combination is a high probability trade set up. The Fry pan bottom, a slow rounding bottom action made up of indecisive candlestick signals will have a result of a strong uptrend. The prerequisite for a J hook pattern is a strong uptrend, followed by an indecisive pullback. The next uptrend coming out of a J hook pattern is usually equivalent to the initial strong uptrend.”
After closing at $7.49, the 52-week trading range is $2.57 to $7.90.
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