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Slater & Gordon Ltd forms bullish "Engulfing Line" chart pattern
Dec 21, 2015
Recognia has detected an "Engulfing Line (Bullish)" chart pattern formed on Slater & Gordon Ltd (SGH:ASX). This bullish signal indicates that the stock price may rise from the close of 0.90.
Tells Me: The recent downtrend is due to reverse, now that buying pressure has overwhelmed prior selling pressure. Following a clear downtrend, we see two candlesticks where the white real body of the second completely envelops the black real body of the first, showing that the bulls have taken over from the bears.
This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.

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