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|