SLI: Sa Lahat ng Ipit, rescue is ongoing

SLI did a good job today avoiding turning red. It closed by 15.91% to 1.02 Is this the beginning of its reversal? We have a Harami pattern formed in today’s chart. As we can see we have a green candlestick that is contained within yesterday’s red candlesticks. This pattern tells us that while the stock is bearish and there was a selling pressure yesterday, it was followed by a green candlestick that suggests bearish sentiment is diminishing. We need to see the bulls tomorrow in order to obtain the reversal we need. Bulls may be felt when we see a green candlestick, large gap up or a close higher than today.

Harami has a low reliability but this could become a Three Inside Up which is a high reliability reversal pattern.

Caveat!

2 Responses to SLI: Sa Lahat ng Ipit, rescue is ongoing

  1. Sherwin Abad says:

    worse if it forms out as a continunation pennant in the following days but at least makakaexit na ung mga naipit kahit papaano.

Leave a Reply