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Opendoor’s stock flashes ‘bearish engulfing’ chart pattern. Is the rally over?

1. Opendoor shares surged and then plummeted, indicating potential trend reversal. 2. A 'bearish engulfing' pattern suggests a bearish trend may have emerged. 3. The stock reached a peak of $7.32 before closing at $6.04. 4. Historical bearish engulfing patterns indicate possible short-term declines. 5. No significant news caused the volatility, questioning market stability.

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FAQ

Why Bearish?

The appearance of a bearish engulfing pattern generally signals trend reversals. Past instances of similar patterns have led to declines, indicating caution.

How important is it?

The trading behavior and chart patterns are highly relevant to investors tracking OPEN's price movements.

Why Short Term?

Given the nature of bearish engulfing patterns, short-term corrections are likely, much like those observed in other stocks after similar signals.

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