Meeting Lines Bullish Candlestick Pattern

The Psychology
In a downtrend or during a pullback within an uptrend, a long black day occurs. The next day gaps down in the direction of the trend and most likely causes the remaining bulls to throw in the towel. The stock then rallies as bottom fishers step in and shorts start to cover. The author considers the identical close of the two candles to be incidental and not extremely important. The fact remains the bulls were washed out and now short covering may cause the stock to bounce.

A long black day is followed by a long white day that gaps in the direction of the trend but then rallies to close at the same price as the black day’s close.

Pattern: reversal
Reliability: moderate