Notis Global Inc. (fka NGBL)

[ospreyeye]

$MDBX Chart - the BULLISH ENGULFING reversal pattern that formed on Thurs. has been confirmed today - nice follow through following 14 red candles in a row - 0.20 is the next big resistance level on this chart - Congrats to everyone who caught our chart & TA from last week - another winner for our friends -

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.

Buy/Stop Loss Levels

The confirmation level is defined as the last close. Prices should cross above this level for confirmation.