Range Impact Inc (RNGE)

[ospreyeye]

$STVF Chart – BULLISH ENGULFING reversal pattern is forming today following 4 red candles in a row – 0.14 is the next resistance level to break – a close above the Aug. 13th closing price puts the 50 DMA @ 0.18 on deck –

August 25, 2015 at 11:13 am #9180 EDIT | CLOSE | STICK (TO FRONT) | MERGE | TRASH | SPAM | REPLY | QUOTE

Ospreyeye

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2101

Definition

This pattern is characterized by a large white body engulfing a preceding smaller black body, which appears during a downtrend. The white body does not necessarily engulf the shadows of the black body but totally engulfs the body itself. This is an important bottom reversal signal.

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 completely engulfs the black body of the preceding day.