Yesterday’s Hammer could be a game changer with Bullish follow through
From a Bull’s Eye – SPY:
Yesterday’s Hammer could be a game changer with Bullish follow through. The price fell to our lower horizontal support line marker, a combination of Candlestick price action and the (VSTOP) indicator we have on a chart. The before the close price rallied back to close above the 34-EMA which formed a Hammer Candle Signal.
A run to $237.85 would not be a surprise, and we could even see a $237.85 breakout that would be a strong bullish sign – BUT everything needs to work out.
The Bears need to step aside, and the Bulls need to take on and beat the $237.85 resistance line.
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FREE Trade Idea – SSI
Daily Chart – Double bottom, Rounded Bottom Breakout (RBB) followed by a PBO flag and a bullish Morning Star signal. On the three day chart, I see a Bullish Engulf, with follow through and holding above support.
You can see more detail and our complete trade plan for NAT in the member’s area of our website.
Spotlight Trade – BLDP
BLDP – Has climbed higher (22.55%) since our members trade ideas on April 5,
The Bullish trend leads to a minor pull back that gave us a bullish Engulf buy alert which leads to a breakout and a members trade idea.
Bullish Morning Star
If you’ve ever wished upon a star, I hope that that star was a Morning Star candlestick pattern. Unlike the Evening Star, an omen that hints at bad things to come (i.e., low stock prices), the Morning Star is a sign of good fortune. If you spot this bullish reversal signal, which is composed of three candles, you can expect stock prices to increase. Although the bears have been in control, the bulls are ready and able to take over. To learn how to spot the Morning Star signal, how to decipher its characteristics, and how to interpret its meaning, just Click Here
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