Bearish engulfing near the highs
A bearish engulfing candle within 3% of the 52-week high.
The same location argument as its bullish twin, inverted. An engulfing candle in the middle of a range is noise. One printed while the stock is testing its yearly high is a visible failure at a level plenty of people are watching.
More patterns:Bullish engulfing at supportHammer while oversoldShooting star after a runMorning starThree white soldiers
Price and delivery data from the eod2 dataset: National Stock Exchange of India end-of-day files, split- and bonus-adjusted, updated after each close. Not affiliated with or endorsed by NSE. PatternsRadar is a research tool. Nothing here is investment advice or a recommendation to buy or sell anything.
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