Bullish engulfing pattern showing signal of bullish in the next couple day or reversal from previously downtrend with medium level. The characteristic of Bullish Engulfing is firstly we have to know the stock is in downtrend for many days. After that we should check whether it is a white candle stick apart of before black candle stick. It means black candle yesterday and today white candle. The white candle stick should be longer than before, or the black candle before should be shorter the white. The black candle is engulf by the white candle means there is a strong buy and diminishing its power of downtrend. However, this is only medium level and next confirmation should be white candle too.
Look at ENRG chart below indicate that the stock was in downtrend for many days with black, long black, doji, and small black candle but last friday showing a long white candle, I mean longer than before and before is in the mid of the white candle.
So remember confirmation and also it is medium level. Stock analysis 80% and 100% the one who have Rp 1 trillion again.
All the best learning... Hope we all learn many things day by day... I am William Chen for Smart trader and investors. Will I Am Chen... GBU
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