A candlestick analysis is a technical analysis used to determine the price movement of the stocks/securities. Candlestick analysis can be used for weekly forecasting, i.e buying and selling within the week time. Engulfing pattern is a reversal candlestick pattern.
The Doji is a commonly found pattern in a candlestick chart,it is characterized by being small in length—i.e,a small trading range, with an opening and closing price that are virtually equal.
Piercing Pattern is a reversal candlestick pattern which is bullish in nature and appears at the end of a down trend. The pattern is made of two candle-lines, the first candle is bearish in nature and the second is bullish in nature.
Hammer and hanging man patterns are very reliable and powerful, appears rarely and shows the reversal in trend, hence it is popular.