scanX
Screeners
Explore
Live Market Scanner
By ScanX
Following
Boosted
Shared With Me
My Saved Screeners
Create New Screener
PIERCING PATTERN

PIERCING PATTERN

by @suryavamsyxca477bb
Piercing Pattern

Piercing Pattern

What are Piercing Patterns?

Piercing patterns are identified by a specific formation in candlestick charting where the second day’s gains substantially recover the losses of the first day’s bearish candle. This pattern typically appears during a downtrend and indicates that the bearish trend may be losing strength and a bullish reversal is imminent. The bullish candle must close above the midpoint of the previous day’s bearish candle, which reflects strong buying interest.

What do Piercing Patterns Tell Us?

Piercing patterns indicate a shift in market sentiment from bearish to bullish. They suggest that buyers have started to outweigh sellers, pushing the price up significantly during the session despite a bearish opening. This pattern is considered a strong signal for a potential trend reversal, especially when accompanied by high trading volume, suggesting a robust change in investor sentiment.

Filters Used to Sort the Above Stocks

1. The name itself is a filter - Piercing

This filter identifies stocks exhibiting a Piercing pattern, aiming to capture potential bullish reversals early. The rationale for using this filter is to highlight stocks where buyers are regaining control, possibly leading to an upward price correction. It’s particularly useful for traders looking to capitalize on shifts in momentum from bearish to bullish trends.

Key Takeaways

1. What does the Piercing pattern indicate?

The Piercing pattern is a reliable indicator of a possible shift from a downtrend to an uptrend, showing early signs of bullish recovery.

2. What does the pattern demonstrate about buyer activity?

This pattern demonstrates a strong comeback by buyers, who are likely to drive further price increases if the momentum continues.

3. How can traders use the Piercing pattern?

For traders, spotting a Piercing pattern can provide a strategic entry point for long positions, anticipating future gains.

4. What does the significant closure above the bearish candle’s midpoint signify?

The significant closure above the bearish candle’s mid-point in a Piercing pattern boosts confidence in a potential sustained reversal.

5. What does the emergence of a Piercing pattern reflect?

The emergence of a Piercing pattern can reflect a change in market sentiment, potentially leading to increased buying activity and upward price movements.

0
save

Modify

Piercing
Price
Day Price Change
Price %Change
Volume
PE Ratio
Market Cap
SMA (5)
FII Holding
1,841.20 12.20 0.67% 74,89,947 30.09 11,21,862 1,843.64 27.80
4,054.10 33.00 0.82% 22,29,134 29.16 5,57,687 4,059.54 18.78
37,965.00 110.00 0.29% 30,053 56.23 42,346 38,032.00 19.00
2,780.80 1.60 0.06% 50,252 34.19 34,742 2,784.54 8.26
826.95 14.40 1.77% 10,04,628 23.42 23,083 835.89 3.09
42.17 0.58 1.39% 3,41,46,106 22.99 19,741 42.22 10.02
561.15 8.05 1.46% 3,36,248 59.19 15,696 565.32 3.23
1,223.90 0.80 0.07% 6,90,212 70.29 10,046 1,218.22 7.11
323.45 3.55 1.11% 1,78,363 23.31 6,901 322.64 7.65
7,570.90 50.35 0.67% 518 31.50 4,003 6,244.30 2.74
1,816.30 17.50 0.97% 10,447 17.30 2,745 1,817.68 0.83
253.51 3.42 1.37% 5,12,244 10.51 2,145 254.81 14.96
55.58 1.40 2.58% 26,44,366 20.12 1,847 54.76 0.69
18.19 0.12 0.66% 2,44,012 5.83 813 18.03 0.04
216.11 5.54 2.63% 2,44,849 18.56 691 213.63 0.41
1,087.45 11.55 1.07% 2,893 12.49 679 1,090.17 0.00
400.45 3.80 0.96% 4,187 -43.45 576 398.72 0.04
136.86 1.18 0.87% 80,383 34.35 531 134.89 0.85
109.76 0.56 0.51% 6,923 11.07 474 108.71 0.00
222.85 2.55 1.16% 20,000 0.00 474 227.01 0.00
216.31 2.23 1.04% 22,024 24.14 439 213.83 0.44
170.45 4.70 2.84% 21,250 16.81 372 170.53 0.00
113.54 0.13 0.11% 51,425 12.06 243 114.75 0.36
44.99 0.18 0.40% 12,434 -18.41 187 44.85 0.08
14.17 0.52 3.81% 48,105 40.70 112 14.15 0.00
Showing 25 of 29 results
Download