GB Sciences Inc (GBLX)

[ospreyeye]

$GBLX Chart – today’s bullish move has confirmed the BULLISH HARAMI reversal pattern that formed on the 24th – the middle Bollinger Band @ 0.40 is the Key level to close above & turn into support – when the middle BB turns into support a new up trend can begin –

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2102

Definition

This pattern consists of a black body and a small white body that is completely inside the range of the black body. If an outline is drawn for the pattern, it looks like a pregnant woman. This is not a coincidence. “Harami” is an old Japanese word for “pregnant”. The black candlestick is “the mother” and the small candlestick is “the baby”.

Recognition Criteria

1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. The white body that is formed on the second day is completely engulfed by the body of the first day.

Buy/Stop Loss Levels

The confirmation level is defined as the last close or the midpoint of the first black body, whichever is higher. Prices should cross above this level for confirmation.