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The Psychology
In a downtrend or within a pullback of an uptrend, a sharp intraday sell-off is followed by a reversal which causes the stock to close at its opening price near the day’s high. This hints at the possibility of a reversal. Bulls most likely were shaken out by the intraday weakness, and shorts start getting a little worried with the bounce. A strong following day on solid volume is needed to confirm the pattern.

Identification
A Doji forms at the upper end of the trading range with a long lower shadow (the longer the more bullish)

Pattern: reversal
Reliability: low/moderate