MPI showing a Harami Pattern

MPI formed a Harami pattern today. This is a sign of disparity in MPI. As the bears try to continue pulling the price down, we have seen that the bulls were able to stop them. This second day green candlestick shows that the bearish power is diminishing. The pattern is considered a reversal pattern but needs confirmation since this is not a strong indicator. It would be convincing if we will see tomorrow a close above the red candlesticks midpoint.

Caveat!

One Response to MPI showing a Harami Pattern

  1. […] continues to trade within the downward channel. Last time we saw a Harami Pattern on MPI and was at the lower slope, it bounced and briefly touched the upper slope before retracing. Is […]

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