InCapta Inc (INCT)

[big_money_insiders]

Im loving the last 2 candles on the chart. Buying some more tomorrow morning.

Thursdays session was a hammer candle: which is a signal indicating the bears are running out of steam and the bulls are looking to make a reversal. Confirmation of this is a white candle the following day. A hammer candle has a small real body at the top with a long lower shadow.


We got confirmation of a bullish reversal for the hammer on the following day with a bullish engulfing candle:

Bullish Engulfing

Significance: bullish

Indication: reversal

# of candles: 2

Previous Trend: bearish

The bullish engulfing candlestick pattern is characterized by a small black candle that appears in the midst of a bearish downtrend. On the following day a longer white candle forms that engulfs the enirety of the first black candle with a close above the open of the first day. This signifies that the bears are losing momentum and the bulls have resumed control for the time being. Confirmation of this pattern is a white candle the folling day. The heavier the volume on the 2nd engulfing day, the higher probability of a bullish reversal.

Note: Candlestick reversal patterns are significantly more potent when occuring near areas of support and resistence.

As well we are still waiting for that bullish divergence between price action and the Macd histogram i previously talked about to play out. Confirmation of the divergence will be the next positive tick on the histogram.

Good luck ladies and gentz.

-fousc

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