Hanging Man
The hanging man is a bearish reversal candlestick pattern that occurs after an uptrend. It is characterized by a small body and a long lower shadow. The long lower shadow indicates that there was a lot of selling pressure during the day, but the buyers were able to push the price back up to the opening price. The hanging man is considered to be a bearish signal, but it should be used in conjunction with other technical indicators to confirm the pattern.
Here are some tips for trading the hanging man pattern:
- Look for the pattern to form after a strong uptrend.
- Wait for the price to close below the open of the hanging man before entering a short position.
The hanging man is a useful tool for traders who are looking to short the market, but it is important to remember that no single pattern is 100% reliable, and traders should always use caution when trading.
These stocks have formed a Hanging Man Pattern on 1 Day time frame
| Company Symbol | Sector | Price | Change | Volume | 52wk High | 52wk High | 1Y Beta | P/E | M Cap | Rating |
|---|---|---|---|---|---|---|---|---|---|---|
| ANSALAPI | Finance | 11.30 | 0.50 (4.63%) | 352.1 T | 31.55 | 8.00 | 0.24 | 1.7 B | Buy | |
| BHANDARI | Consumer Non-Durables | 6.75 | 0.00 (0.00%) | 244.2 T | 8.30 | 3.65 | 1.19 | 15.02 | 1 B | Buy |
| FLEXITUFF | Process Industries | 40.00 | 1.45 (3.76%) | 8,163 | 46.60 | 21.50 | 0.79 | 1.1 B | Buy | |
| TAKE | Technology Services | 22.80 | 1.05 (4.83%) | 362.9 T | 27.55 | 12.75 | 1.14 | 3.2 B | Buy | |
| VTL | Process Industries | 396.65 | -0.85 (-0.21%) | 129,093 | 418.95 | 270.00 | 1.65 | 18.73 | 114.8 B | Buy |