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Possible Reversal Stock Scans
These scans are used to find potential price reversals -- price changing from a downtrend to an uptrend or vice versa. In most cases you'll want some kind of confirmation before trading on oe of these signals. That could be a similar message from some other indicator, like stochastic or simply by price trading above or below a certain level which would confirm the change in direction of price.
Name Description
Doji Doji indicate that the forces of supply and demand are becoming more evenly matched and a change in trend may be near. Doji alone are not enough to mark a reversal and further confirmation may be warranted.
Doji - Bearish? Doji candlesticks form when a stock's open and close are virtually equal. They show a stalemate / indecision between bulls and bears. A doji after an uptrend may signal a reversal
Doji - Bullish? Doji candlesticks form when a stock's open and close are virtually equal. They show a stalemate / indecision between bulls and bears. A doji after a downtrend may signal a reversal
Evening Star Evening star formations can be useful in determining trend changes, particularly when used in conjunction with other indicators. Many traders use price oscillators and trendlines to confirm this candlestick pattern
Hammer Candlestick The Hammer is a bullish reversal pattern that forms after a decline. In addition to a potential trend reversal, hammers can mark bottoms or support levels. After a decline, hammers signal a bullish revival.
Morning Star A morning star pattern can be useful in determining trend changes, particularly when used in conjunction with other technical indicators. Many traders also use price oscillators such as the MACD and RSI to confirm the reversal.
Parabolic Rise Stocks which are in the midst of an extremely sharp rally. They are very extended and may be ripe for a pullback.
Shooting Star Candlestick The shooting star is made up of one candlestick (white or black) with a small body, long upper shadow and small or nonexistent lower shadow.
Spinning Top A candlestick pattern with a short body between two long wicks. Indicates that neither the buyers nor the sellers have won for the day, as the market has closed relatively unchanged from where it opened; the market is indecisive regarding its trend.