PSYC Corporation (PSYC)

[Don Beasley]

Spotting Bullish Trend Reversals $GOHE$

On a candlestick chart, the bullish hammer is a candle with a long lower shadow and a small body at or near the top of its range. The trading action indicates that the stock traded lower throughout the day but found meaningful buying volume at lower prices, driving the price higher into the close. A textbook bullish hammer has almost no upper shadow and a lower shadow that is at least twice the size of the body of the candle.

Here's what the trend reversal looked like on $GOHE$ This was a true reversal after a major correction from a downtrend and it happened at the "stock floor". This indicates that we are trading in a Bullish uptrend currently, and the last two consolidation candles on the monthly chart and last (4) candles on the weekly chart help to indicate that there is the possibility the continuation of a longer term trend change.

5 Signs of A Bullish Technical Reversal