Inverted Hammer on charts: 4 stocks hinting at share price uptrend
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Positive Turn
On the candlestick screener, a bullish reversal pattern helps identify stocks that can convert into an uptrend from a downward zone. So, here are 4 stocks with m-cap between Rs 1000-10,000 crore that have established an Inverted Hammer pattern and hint at a bullish reversal. (Source: StockEdge)
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What is the Inverted Hammer Pattern?
It is a one-day candlestick pattern in which there is a small red real body and an upper shadow extending from the body. It is formed at the bottom of a downtrend.
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Significance
This is a neutral pattern, which signifies a bullish reversal trend as it indicates that the bulls have begun to pull the price up.
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