BEL closed last Friday with 2.64% gain from it's previous price. Observe the candlestick pattern on the daily chart below, it is called Bullish Harami pattern.
According to Investopedia, "bullish harami indicates that the falling trend (bearish trend) may be reversing, it signals that it's a good time to enter into a long position. The smaller the second (white) candlestick, the more likely the reversal.".
This pattern was also supported with the RSI that bounced from the green trend line below. (see the green arrow).
Take note also that there's a gap the needs to be filled. (see the white square)
Caveat!
No comments:
Post a Comment