Identive Group, Inc. (INVE)

[ospreyeye]

$INVE Chart – BULLISH HOMING PIGEON reversal pattern formed on the 29th – that pattern was confirmed today –

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2108

Definition

This pattern is a small black body contained by a prior relatively long black body. It resembles the Harami pattern, except that both bodies are black.

Recognition Criteria

1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. On the second day, we again see a black body which is completely engulfed by the body of the first day.