SBIN has given a fall of 7% in this week after forming a double top pattern.
An evening star pattern has been formed on the weekly time frame and stock has closed below the 20 ema.
After trading around the ATH stock has given a nice fall and in the last trading session too it has given 3% fall.
Volume indicator also confirms the pattern as the volume of the...
An evening star is a candlestick pattern used by technical analysts to predict future price reversals to the downside.
Although it is rare, the evening star pattern is considered by traders to be a reliable technical indicator.
The evening star is the opposite of the morning star pattern. The two are bearish and bullish indicators, respectively.
Script =...
NSE:CUMMINSIND making rising wedge on weekly charts and also has formed a evening star candlestick pattern. With a SL of 1666, one can short for T1 of 1552 and T2 of 1518.
Let's see how the story develops. Best wishes!
Disclaimer -
- The opinions expressed here are my own. This is for my own records as well as what I see on charts.
- If you are referring to...
An evening star is a candlestick pattern used by technical analysts to predict future price reversals to the downside.
Although it is rare, the evening star pattern is considered by traders to be a reliable technical indicator.
The evening star is the opposite of the morning star pattern. The two are bearish and bullish indicators, respectively.
Script = Axis...
Learn Technical Analysis - Bearish Trend
In sgx nifty chart first there was a uptrend & then it broke the resistance of around 17000.
After breaking the resistance it fall again. Now in this scenario prevoius resistance acting as a support & it bounced back from it.
At around 17460 there was a second resistance. So you can also see the dry volume & negative...
Another reversal pattern at important juncture,
It seems like profit booking has occurred at supply zone.
Evening Star formation :
The support holds at low of first candle and same level has been tested today
17300-350 level is the point of the control zone , it has maximum volume spread.
Price pattern has created a confluence zone ,
It would act as...
EXPLANATION : This is a 15 min time frame chart of BANKNIFTY . It has been consolidating at previous Resistance zone and formed the Evening star pattern . ( An Evening start is a candlestick pattern that is used by traders for analyzing when the uptrend is going to reverse to a downtrend ) If give a strong breakdown and continue his pattern , I am bearish on...
The pattern has formed at the resistance zone and the price has come below the important support of the 17600 range.
As per the volume profile majority of price, action has happened on the 17300 level. It can be considered the next level of support.
IRCTC is making a move and has already formed a H&S in the past, currently it is saturating within triangle.
On Friday (23/12) it has formed an evening triangle which can move the price downwards.
FSP
it has formed evening star on weekly chart. rallied far away from 20WMA. so it seem mean reversion is happening now. it can fall upto 910 -1050 zone for support.
on daily chart we can see lower high formation. and if it starts trading below last close price. confirms it is forming lower lows.
it is forming evening star on monthly chart. if it closes below 670 on monthly basis to confirm evening star. otherwise pattern invalid.
first monthly red candle after it's listing.
we may see a pull back or consolidation from here on.
big red candle today with volume.
700 acts as good support. if it breaks, it can go down till next fib retracement level.
EXPLANATION : This is a 1 hour time frame chart of HDFCBANK . It has formed Evening Star Doji Pattern , It signal a more bearish trend than the evening star pattern because of Doji that has appeared between the two bodies .
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UpTrend reversal pattern signals seen in BajFinance
Reasons :
Daily chart trend closed below 5 MA
Evening star candle stick formation seen with today close
Earlier 2 inverted cross doji's formed and not activated yet
Rally is paused after 31st August
Volume Decreasing
RSI Decreasing
Trend is far away from 20 and 200 MA
For healthy uptrend, stock has to test...
BECTORFOOD has fallen to a low of 328 in March 2021 and has been Bullish since then. It has reached a High of 445 in June and has retraced from the resistance zone at 442-452 range to a low of 395.
Now it has reached the resistance zone again and has made a Bearish Pin Bar that is half of the Evening Star Candle Stick Pattern. There is also a Bearish Divergence....
