Bullish Engulfing Pattern in Strong Stocks
Consistent strong performing stocks that show a bullish engulfing pattern
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Strong Stocks
Strong stocks are consistent strong performers in the market
Bullish Engulfing Candlestick Pattern - Definition and usage
A bullish engulfing pattern is a technical analysis, two-candlestick pattern signaling a potential trend reversal. It occurs when a downward bearish candlestick is followed by a larger upward bullish candlestick which completely engulfs the body of the previous candle.
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In this video I’ll be covering 5 predefined momentum screening ideas from our Trading Ideas' section in ChartMill. Momentum trading means that you are primarily concerned with short-term positions. The intention is to buy stocks which are already rising and to sell them again quickly as soon as the first signs are visible that the rising is losing momentum. As an investor you try to benefit from the high volatility associated with the rise in this relatively short time.
Bullish Engulfing Candlestick in Technical Analysis
The Bullish Engulfing candlestick is a bullish reversal candlestick pattern at the bottom of a downtrend. This specific pattern consists of two candles where the second bullish candle completely envelops the body of the first bearish candle as a sign of bullish momentum. Looking for a detailed guide with examples? Read our detailed article on the Bullish Engulfing pattern in the Related Articles section below.
Candlestick: Bullish Engulfing
The actual Bullish Engulfing signal
Signal: Strong Stocks
This filters for strong stocks. Strong stocks are high relative strength stocks that show a stable uptrend.
Average Volume: 50 SMA > 200K
This filter excludes all stocks that have a lower daily average volume than 200K.
Price: Above 5
This filter excludes all stocks that are trading below 5 dollar.
10SMA and 20SMA
Regional Run
Run this screen in your favorite region. You can always further fine tune the screen by changing the general settings after it opened in the screener.