Marijuana - Companies & Stocks

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$PNTV.039-USA's-Largest-Public-MMJ-Grower-Chart-Analysis-BULLISH-ENGULFING-CANDLE!

You can see this candle confirmed here...

https://www.americanbulls.com/SignalPage.aspx?lang=en&Ticker=PNTV

Market Outlook The market is finally giving hints of a bullish resurgence. Today a bullish pattern is detected.

BULLISH ENGULFING

https://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.
Pattern Requirements and Flexibility
The length of the first black candlestick in Bullish Engulfing is not important. It can even be a Doji. However, the second one has to be a normal or long white candlestick. Either the body tops or the body bottoms of the two candlesticks may be at the same level, but in any case, the white body should be longer than the previous black body.
Trader’s Behavior
While the market is characterized by a downtrend, lower volume of selling is observed with the occurrence of a black body on the first day. The next day, the market opens at new lows. It looks as if there’s going to be more bearish trading, however the downtrend loses momentum and the bulls take the lead during the day. The buying pressure overcomes selling and finally the market closes above the open of the previous day. The downtrend is damaged.




Here is the CEO SHAREHOLDER UPDATE that fueled the reversal!