The inverted hammer is a bullish reversal candlestick pattern that occurs at the bottom of a downtrend. It is characterized by a small body and a long upper shadow. The long upper shadow indicates that there was a lot of buying pressure during the day, but the sellers were able to push the price back down to the opening price.
The inverted hammer is a reliable signal of a trend reversal, but it should be used in conjunction with other technical indicators to confirm the pattern.
Here are some tips for trading the inverted hammer pattern:
- Look for the pattern to form after a strong downtrend.
- Enter a long position when the price closes above the open of the inverted hammer.
The inverted hammer is a useful tool for traders who are looking to buy 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 Inverted Hammer Pattern on 1 Day time frame
|Company Symbol||Sector||Price||Change||Volume||52wk High||52wk High||1Y Beta||P/E||M Cap||Rating|
|HCL-INSYS||Technology Services||17.15||0.05 (0.29%)||216.5 T||20.80||11.15||0.94||5.7 B||Neutral|
|NAGAFERT||Process Industries||8.60||0.05 (0.58%)||1.8 M||13.55||7.30||0.04||5.1 B||Strong Sell|
|VISASTEEL||Non-Energy Minerals||12.60||-0.35 (-2.70%)||3.6 M||19.10||10.20||1.33||0.09||1.4 B||Sell|