Notis Global Inc. (fka NGBL)

[ospreyeye]

$MDBX Chart – BULLISH PIERCING LINE / BULLISH ENGULFING reversal pattern is forming day following 14 red candles in a row – big volume during the drop – bouncing on light volume today – the day is young, so the pattern can & will change, but currently a bullish pattern is developing – a 2nd white candle on Monday would be a bullish change in trend – $MDBX has been struggling to form two consecutive white candles in a row on the daily chart –

BULLISH PIERCING LINE -

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2105

Definition

This is a bottom reversal pattern with two candlesticks. A black candlestick appears on the first day while a downtrend is in progress. The second day opens at a new low, with a gap down and closes more than halfway into the prior black body, leading to the formation of a strong white candlestick.

Recognition Criteria

1. The market is characterized by a prevailing downtrend.
2. A black candlestick appears on the first day.
3. A white candlestick opens on the second day with a gap down and closes more than halfway into the body of the first day.
4. The second day fails to close above the body of the first day.

BULLISH ENGULFING

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.