Vipshop Holdings Ltd. (VIPS)

[ospreyeye]

$VIPS Chart from yesterday – the BULLISH HOMING PIGEON reversal pattern that formed yesterday was confirmed today -closed above EMA 4 @ 14.26 – EMA 8 @ 15.75 is the next resistance level to break – big gap between low of day on the 12th & high of day on the 13th – Fast STO bull cross and above the 20 oversold line – RSI above the 30 oversold line – Big Volume – the MACD Line is starting to hook –

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2108

Definition

This pattern is a small black body contained by a prior relatively long black body. It resembles the Harami pattern, except that both bodies are black.

Recognition Criteria

1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. On the second day, we again see a black body which is completely engulfed by the body of the first day.