Bullish Engulfing for eGain Corporation (EGAN)

A Bullish Engulfing candlestick for eGain Corporation (EGAN) today, forming at a double bottom.

CLICK / TAP CHART TO ENLARGE —- Chart Key: T Line (8 Exponential Moving Average), grey shaded area — 20 Day Simple Moving Average, green line — 34 Day Exponential Moving Average, orange dotted line — 50 Day Simple Moving Average, blue line — 200 Day Simple Moving Average, red line

While still trading below the T-line (8 Exponential Moving Average), today’s move did come on huge volume with oversold Stochastics.

Check out the trend and momentum for EGAN with a free trend analysis report.

For a list of daily Bullish Engulfing Candlestick charts and signals, visit BullishEngulfing.com. Get daily stock chart videos from Daily Stock Chart Video.

For other Candlestick stock chart analysis visit Make Money Buying and Selling Stocks.

Stocks to Buy Now Disclaimer

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Bullish Harami for THLD

Threshold Pharmaceuticals (THLD) formed a Bullish Harami today. Adding to the signal are that the Harami followed an Inverse Hammer, following a Doji/Hammer along a line of past price action.

CLICK / TAP CHART TO ENLARGE —- Chart Key: T Line (8 Exponential Moving Average), grey shaded area — 20 Day Simple Moving Average, green line — 34 Day Exponential Moving Average, orange dotted line — 50 Day Simple Moving Average, blue line — 200 Day Simple Moving Average, red line

THLD is trading below the 200 day simple moving average, however, Stochastics are oversold. Keep an eye out for what happens after a move back to the 200 MA. If it doesn’t break through, the next major area of support is around the 2.85 area.

Learn more about the trend and momentum for THLD with a free trend analysis report.

CLICK / TAP CHART TO ENLARGE — Ichimoku Cloud Chart

Ichimoku traders will not be looking long as price action and the Lagging Line (blue line) are below the cloud — a Bearish indicator. However, aggressive traders may look to go long up to the bottom of the cloud or the Tenkan-sen (Conversion Line) — red line — or the Kijun-sen (Base Line) — green line.

For a list of daily Bullish Engulfing Candlestick charts and signals, visit BullishEngulfing.com. Get daily stock chart videos from Daily Stock Chart Video.

For other Candlestick stock chart analysis visit Make Money Buying and Selling Stocks.

Stocks to Buy Now Disclaimer


Video: Market Direction

Stephen Bigalow with Candlestick Forum presents today’s market direction video.

The failure of the markets to break through the upper resistance levels, the Dow and the S&P 500 in a wedge formation, the NASDAQ in a upward trend channel, is now making the lower end of the patterns the next target. However, the Dow and the S&P 500 are at the narrow point of the wedge formation, making any pullbacks quickly testing the bottom of the wedge formation.

The markets closing at the bottom of the patterns now makes the prospects of a breach to the downside likely. This is an area that becomes very advantageous for watching the candlestick signals in that bullish signals on the open tomorrow will reveal the wedge pattern and the trend channel remain intact. A lower open indicates the direction the markets will be moving based upon a breach of the lower support levels.

For a list of daily Bullish Engulfing Candlestick charts and signals, visit BullishEngulfing.com. Get daily stock chart videos from Daily Stock Chart Video.

For other Candlestick stock chart analysis visit Make Money Buying and Selling Stocks.

Stocks to Buy Now Disclaimer


Bullish Harami for Weibo Corp. (WB)

A reversal candlestick — Bullish Harami — for Weibo Corporation (WB) today. According to StockCharts.com, the Harami is “a two-day pattern that has a small body day completely contained within the range of the previous body, and is the opposite color.”

Harami are considered potential bullish reversals after a decline. No matter what the color of the first candlestick, the smaller the body of the second candlestick is, the more likely the reversal. If the small candlestick is a doji, the chances of a reversal increase.

Learn more about trading the Harami and Japanese Candlestick chart patterns from Stephen Bigalow at Candlestick Forum.

CLICK / TAP CHART TO ENLARGE —- Chart Key: T Line (8 Exponential Moving Average), grey shaded area — 20 Day Simple Moving Average, green line — 34 Day Exponential Moving Average, orange dotted line — 50 Day Simple Moving Average, blue line — 200 Day Simple Moving Average, red line

Learn more about the trend and momentum for Weibo Corporation (WB); click here (or tap here on mobile devices) for a free trend analysis report.

If you’re an Ichimoku chart trader, good news. Today’s move put WB above the Kumo (cloud), a Bullish buy signal for cloud breakout traders. One “negative” is that the Lagging Line (blue line) is still in the cloud, but it is above price.

CLICK / TAP CHART TO ENLARGE — Ichimoku Cloud Chart

Bullish Harami Video Lesson

Learn more about the Bullish Harami in the video below from Hit and Run Candlesticks (Rick Saddler).

For a list of daily Bullish Engulfing Candlestick charts and signals, visit BullishEngulfing.com. Get daily stock chart videos from Daily Stock Chart Video.

For other Candlestick stock chart analysis visit Make Money Buying and Selling Stocks.

Stocks to Buy Now Disclaimer


Morning Star Pattern for GOLD

A Morning Star pattern formed today for Randgold Resources (GOLD). The three-candlestick pattern was completed today following the inverted hammer yesterday that formed right on support of the 200 day simple moving average (MA).

CLICK / TAP CHART TO ENLARGE —- Chart Key: T Line (8 Exponential Moving Average), grey shaded area — 20 Day Simple Moving Average, green line — 34 Day Exponential Moving Average, orange dotted line — 50 Day Simple Moving Average, blue line — 200 Day Simple Moving Average, red line

Here’s the definition of a Morning Star pattern, courtesy of Investopedia.

A bullish candlestick pattern that consists of three candles that have demonstrated the following characteristics:

1. The first bar is a large red candlestick located within a defined downtrend.
2. The second bar is a small-bodied candle (either red or white) that closes below the first red bar.
3. The last bar is a large white candle that opens above the middle candle and closes near the center of the first bar’s body.

In addition to the Morning Star pattern — a high probability Bullish candlestick signal — today’s 4.2 percent helped GOLD move above and break out of the Kumo (cloud) on the Ichimoku chart — a Bullish buy signal.

CLICK / TAP CHART TO ENLARGE — Ichimoku Cloud Chart

To find out about the trend and momentum for Randgold Resources (GOLD), click here (or tap here on mobile devices) for a free trend analysis report.

Learn more about trading stocks and using Japanese Candlestick chart patterns from Stephen Bigalow at Candlestick Forum.

For a list of daily Bullish Engulfing Candlestick charts and signals, visit BullishEngulfing.com. Get daily stock chart videos from Daily Stock Chart Video.

For other Candlestick stock chart analysis visit Make Money Buying and Selling Stocks.

Stocks to Buy Now Disclaimer


Three Outside Up for LAYN

A Bullish Engulfing confirmation signal — the Three Outside Up candlestick pattern — today for Layne Christensen Co. (LAYN). Not only was Friday’s Bullish Engulfing confirmed with today’s positive move, but LAYN also closed above the 50 day simple moving average and the most recent highs in it’s recent upward trend.

CLICK / TAP CHART TO ENLARGE —- Chart Key: T Line (8 Exponential Moving Average), grey shaded area — 20 Day Simple Moving Average, green line — 34 Day Exponential Moving Average, orange dotted line — 50 Day Simple Moving Average, blue line — 200 Day Simple Moving Average, red line

The directional indicator Di+ has just crossed over Di- indicating the Bulls are in charge. Learn more about the trend and momentum for LAYN, with a free trend analysis report.

In addition, the ADX is at 20.85. Many traders use the 20 line to indicate a new trend; others use the 25 line. Either way, LAYN has been in a short-term uptrend since hitting bottom on March 27.

A likely profit target is the 200 day simple moving average, which would provide a gain of almost 37 percent.

Learn more about trading stocks and using Japanese Candlestick chart patterns from Stephen Bigalow at Candlestick Forum.

For a list of daily Bullish Engulfing Candlestick charts and signals, visit BullishEngulfing.com. Get daily stock chart videos from Daily Stock Chart Video.

For other Candlestick stock chart analysis visit Make Money Buying and Selling Stocks.

Stocks to Buy Now Disclaimer


Bullish Kicker for Western Refining Inc. (WNR)

A nice Bullish Kicker for Western Refining Inc. (WNR) on Friday, April 24. The kicker followed a Doji right at a moving average squeeze where the 20 day simple moving average (MA) and the 50 day simple moving average were converging together.

CLICK / TAP CHART TO ENLARGE —- Chart Key: T Line (8 Exponential Moving Average), grey shaded area — 20 Day Simple Moving Average, green line — 34 Day Exponential Moving Average, orange dotted line — 50 Day Simple Moving Average, blue line — 200 Day Simple Moving Average, red line

WNR enjoyed a very nice Bullish move starting in mid-January, topping out at around the 50 level before pulling back to the 200 day simple moving average earlier this month before starting another move up.

A great time to buy would have been on the Bullish Engulfing signal on April 16 — the day after or after a price above the engulfing (for more conservative traders. This could be wave three of a move that could see gains of wave 1 (around $16 or up to the 60 level).

Learn more about the trend and momentum for WNR, with a free trend analysis report.

Learn more about trading stocks and using Japanese Candlestick chart patterns from Stephen Bigalow at Candlestick Forum.

For a list of daily Bullish Engulfing Candlestick charts and signals, visit BullishEngulfing.com. Get daily stock chart videos from Daily Stock Chart Video.

For other Candlestick stock chart analysis visit Make Money Buying and Selling Stocks.

Stocks to Buy Now Disclaimer