Pervasip Corp (PVSP)

[Owlman]

Bullish Upside Tasuki Gap Pattern

Posted in: 2. Medium Reliability (bullish), Bullish Candlesticks, Candlestick Charts, Learn Stock Charts

BULLISH UPSIDE TASUKI GAP PATTERN (BUTGP)
Day 2’s gap is not fully closed

Characteristics:
1. Market is on an uptrend;
2. There are two long white sticks with a gap between them;
3. Day 3 has a black candlestick within the second day’s body;
4. Day 3 closes into the gap but does not fully close the gap.

Brief Explanation:
The BUTGP comes out in a strongly upward market, where the bulls continue to move one more day. On Day 3, there is a black stick which shows that there is temporary profit taking. On this correction day, the gap is not completely filled, so the previous upward trend should continue.

This pattern is similar to the Bullish Upside Gap Three Methods Pattern (BUGTMP). The difference is in the BUGTMP, the gap between Day 1 and Day 2 is filed on the third day.

Notes:
1. The pattern is a rare formation
2. The bodies of the Day 2 and Day 3 sticks are more or less of the same size
3. A confirmation on Day 4 is suggested (through a white candlestick, a large gap-up or a higher close).



http://www2.thestockmarketwatch.com/learn-stock-market/bullish-upside-tasuki-gap-pattern/#ixzz2h9sg3yi7


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The only difference between a Tasuki gap and 8/4, 8/7, and 8/8, is that 8/8 is looking like a bullish doji when you look at what's happening on the 60-min chart instead of a down day as explained in Tasuki gap description. Both formations say the sake thing about support, .0032 in our case, and the bullishness of the chart. It suggests that we won't need a double bottom on .0032 before, perhaps, raising a flagpole. Yeah baby!

A green day tomorrow needed to confirm. I think we'll get it. :)

Man I love this chart. It is sweet.