Inverted
Hammer
Description
This
bullish reversal pattern is considered moderately reliable.
After
a downtrend, a black candlestick day forms, then a small real body with an
upper wick not longer than twice its height, with no lower wick.
The
stock has gapped down in this case. There is an attempt to rally, but it
fizzles and the stock drops to close near the day’s low. This is taken as a
sign that there is some bullish sentiment. For confirmation, a strong next day
with good volume is needed.
Market
Opinion
Bullish.
Pattern
