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In a downtrend or during a pullback within an uptrend, the stock gaps down. A valid attempt is made to rally the stock off the bottom, but the strength subsides and the stock falls to close near the day’s low at the same price it opened. The rally attempt failed, but it does suggest that there are some bulls out there looking to buy. For a reversal to occur a strong follow up day is needed with solid volume.

Identification
A Doji forms at the lower end of the trading range. The upper shadow is usually long while the lower shadow is small or almost nonexistent.

Pattern: reversal
Reliability: low/moderate