STOCK GOODIES PLAYS OF THE WEEK

[Nilbud]

THREE OUTSIDE DOWN The Bearish Three Outside Down Pattern is another name for the Confirmed Bearish Engulfing Pattern. The third day confirms the bearish trend reversal. Recognition Criteria: 1. Market is characterized by uptrend. 2. We see a Bearish Engulfing Pattern in the first two days. 3. Then we see a black candlestick on the third day with a lower close than the second day. Explanation: The first two days forms a Bearish Engulfing Pattern, and the third day confirms the reversal suggested by the Bearish Engulfing Pattern since it is a black candlestick closing with a new low for the three days.