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Ampio Pharmaceuticals, Inc. Message Board

  • dkotanto dkotanto Jul 31, 2013 10:06 PM Flag

    Bullish Harami Cross

    Looking at the last two day candlesticks, it looks like a reverse pattern is forming. From americanbullsdotcom:

    BULLISH HARAMI CROSS
    Definition
    This is a major bullish reversal pattern, which is even more significant than a regular Bullish Harami. The outline again looks like a pregnant woman, as with the Bullish Harami Pattern. However, now the baby is a Doji. Basically, the pattern is characterized by a black body followed by a Doji that is completely inside the range of the prior black body.
    Recognition Criteria
    1. The market is characterized by a prevailing downtrend.
    2. A black body is observed on the first day.
    3. The Doji that is formed on the second day is completely engulfed by the body of the first day.

    Pattern Requirements and Flexibility

    The Bullish Harami Cross consists of two candlesticks, in which the body of the first black candlestick engulfs the body of the following Doji. The body of the first candlestick may be short.

    Trader’s Behavior

    A bearish mood prevails in the market, and a downtrend is in progress. The first day’s candlestick is a black body, which further supports bearishness. However the next day, prices open higher than the close, or at the close of the preceding day. The short traders are alarmed which leads to the covering of many short positions, causing the price to rise further. Moreover, the day closes at the opening price, showing lack of decision among traders. The increasing level of indecision and uncertainty amplifies the likelihood of a trend change and cause a reversal.

    Sentiment: Strong Buy

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AMPE
3.64+0.07(+1.96%)Dec 18 4:05 PMEST

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