Morning Star | Bullish Candlestick Pattern

Hey there!

Bringing to you stock ideas by scanning for morning star candlestick pattern as of 10th October 🔥

A morning star is a bullish candlestick pattern, plotted by looking at the last 3 candlesticks formed on a chart. The first is a long-bodied red candle that continues the decline that is currently in place. A short middle candle that gaps down on the open follows next. Following is a green candle with a long body that gaps up at the open and closes somewhat above the first day’s body’s halfway.

This pattern marks a potential short-term reversal from a downtrend to an uptrend and is often a preferred entry point for a stock. A morning star formation gives the best results when backed up by volume and some other indicators, like a support level.

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