Yes Bank has a hanging man symptom and has a possible trend reversal to be bullish in short term.
Entry:- 48.8
Target:- 54.9
Stop Loss:- 42.9
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Stock Ticker – NSE: YESBANK – Yes Bank Ltd. – FINANCIAL SERVICES
Bullish Trade plan:
Entry Level 48.8 Target 54.9 Stoploss 42.9
Analyst Rating – :3/5
View Posted on 2019-10-08
Hi,
The hanging man pattern usually occurs at the top of an uptrend and it has a small body with a long upper tail pattern. Hanging man is a bearish reversal pattern, as the buyers were initially in charge but yet the sellers were capable to reverse that control and drive prices back up to close near the low for the day.
Conditions
Hanging man has a small body with a long upper tail.
The lower tail should be invisible or very small in size.
Volume should be high during hanging man day.
Hanging man should be red in color.
Hanging man occur after a price incline
Ok.. thanks Naresh for the feedback