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.