Bullish Harami on TEL

TEL have been going down for several days now and Ichimoku system is telling us that it is still in a downward trend since the last time it broke from the Kumo. But today we are seeing a possible reversal from our candlestick pattern. This pattern is what we called a Bullish Harami. Bullish Harami pattern suggests the power of the bulls are diminishing. As we can see we have a green candlestick that is engulfed by the previous large red candlestick.

RSI or Relative Strength Index is at oversold level and is now pointing up and looks like we have a good upside if price will continue to go up.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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