Perusahaan Rokok Tjap Gudang Garam Tbk forms bullish "Inside Bar" chart pattern
Jan 11, 2017
Recognia has detected an "Inside Bar (Bullish)" chart pattern formed on Perusahaan Rokok Tjap Gudang Garam Tbk (GGRM:JKT).
This bullish signal indicates that the stock price may rise from the close of 63,150.00.
Tells Me: The balance between buyers and sellers, recently dominated by the bears, is evening out. We may see higher prices ahead. An Inside Bar develops during a strong downtrend, when the trading range is completely within the boundaries of the prior bar. This suggests the balance between buyers and sellers is becoming more evenly balanced i.e. a weakening in power for the bears and increasing in power for the bulls.
This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.