Joe's Jeans Inc. (DFBG)

[ospreyeye]

$JOEZ Chart from yesterday – bouncing today & currently forming Bullish Piercing Line reversal pattern – the lower Bollinger Band @ 0.23 is the 1st resistance level – EMA 4 @ 0.24 is the 2nd – a close above EMA 4 puts EMA 8 @ 0.0.26 on deck – yesterday’s candle formed below the lower Bollinger Band signaled an unsustainable move lower – Fast STO bull cross – above the 20 oversold line – RSI is now above the 30 oversold line – volume spike – the MACD Line is starting to hook –

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

BULLISH PIERCING LINE

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.