Watching it closely and on further inspection would you say there is a bearish engulfing pattern?
1. There is clear a down day which totally covers the previous candlestick
2. Engulfing pattern at the top of trend
3. No sure how to confirm a turn in trend?
4. Would you say there is a divergence on the RSI?
Moni
.Theres a few ways people try and judge this.You could look for divergence as a clue to a change in direction ,If you look at the previous chart i posted you can see a divergence in the rsi. but you should never second guess as its always harder with shares in blue sky territory.
another way to work out a possible turning point is via fib projections as that can give you an idea where the sellers may look to take profits. You could also look at conventional targets as a place for turning as well.These can be from trading range or triangle targets. There are a few things you can look for. Theres more obviously.
Bottom line is ...Follow the trend and you should be ok. SO trying to catch a turning point is basically suicide. You should never try and guess a top as your going against the trend and that is a big no no in trading. Only gamblers try and catch a top Unless your day trading and look to close out the trade quickly.