CPG has been in an uptrend for quite sometime now and although it had some headwinds like the one we saw last week, still the bullish trend is intact. But what about this week? Are we going to see some corrections. The last two candlesticks on our daily chart shows a basic star formation. Although we still have to wait for this week, it might form an Evening Star which is bearish in nature.
Evening Star are formations that have a high reliability for a stock to reverse current trend. Basic formation should have 1 large green candlestick, then followed by a small candlesticks that could be either red or green. There might be 2-3 of these candlesticks. The third day (or at least) should be a large red candlestick that closes around mid level of the first candlestick.