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Daily Trading Ideas

Country Garden Holdings Co Ltd forms bullish "Hammer" chart pattern
Jan 05, 2017

Recognia has detected a "Hammer" chart pattern formed on Country Garden Holdings Co Ltd (2007:HKEx). This bullish signal indicates that the stock price may rise from the close of 4.210.

Tells Me: The price may have reached the bottom of the recent downtrend, having recovered high up from a sharp decline for the session. The Hammer appears during a downtrend, displaying a long lower shadow with a small real body at the top of the range. The price may be developing a bottom and due for a reversal to the upside.

This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.

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