Bullish Harami on PGAS
It just strucked me that yesterday PGAS is on a bullish harami state. When bullish harami occurs on a downtrend period, there’s a big chance that the price of that stock will reverse to an uptrend. But on the long run (PGAS is on an uptrendline for more than 12 months now), this might indicate that the stock is ready to plunge. (PS: bullish harami is indicated by the latest candlestick)
So for those of you who own PGAS and haven’t done any cutloss this week, wait for it to at least achieve the previous price level and then sell. I advice that we wait and see whether this bullish harami is indeed a reversal pattern for uptrend or downtrend.
The problem with that chart is that it has three indicators, it is now on bullish harami state, spinning top, and also a long lower shadow. Three of them should be interpreted differently. The longer the lower shadow is (like yesterday) means that the bullish is gaining momentum. However, the spinning top indicates that bullish side is loosing momentum.
Based on that, I concur that we just wait and see who wins the battle of bull or bear.
pertamaaxxx!!!