Harvest Natural Resources, Inc. (HNR)

[ospreyeye]

$HNR Chart - Following 4 red candles Bullish One White Soldier reversal pattern formed off 100 DMA @ 1.01 & ascending support - Key levels to hold - the 50 DMA @ 1.45 is the 1st resistance level to break - as this chart shows the 200 DMA @ 1.65 has been major resistance & is the Key level to turn into support - bulls want to see candles forming above the red descending resistance line -

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2111

Definition

This pattern appears in a downtrend and consists of a black candlestick and a white candlestick in which the white candlestick opens above the preceding day’s close and closes above its open. The pattern looks similar to the Bullish Harami pattern. The only difference is that the second day closes higher, which stops the engulfing of the white body by the preceding black body.

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 opens higher than the first day’s close and closes higher than the first day’s open.