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Three Stars in the South Bullish
Trend: Bullish
Reliability: Moderate
How to Identify it
- The first day is a long black day with a long lower shadow
- The second day is a black day similar to the first, but smaller, with a low above the first days low
- The third day is a small Black Marubozu that lies within the second days trading range
What it Means
In a downtrend three black days occur. However each day is consecutively weaker within the trend, suggesting that some buying is occurring. Small rallies on each day keep the market’s lows from reaching that of the first day. All indications are that the tide is slowly turning toward the bulls.
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