The Bullish Engulfing Pattern is a highly predictive indicator of a reversal in trend from sellers to buyers.  In my analysis of my universe I found a number of stocks with this pattern and from oversold conditions implying a very high level of probability.

The basic materials sector and financial sector showed the most names with this pattern, CLF, POT, MOS, CF, GS, JPM and in tech, BRCM and CTXS.  Click here to learn how this pattern is created.

I also want to see stocks that have had a positive MACD cross from oversold levels to turbo charge the move.

The Daily Technician is our daily newsletter of specific levels and broad market commentary.  Day Trade Well has a proven methodology for picking winners and predicting major market directional moves with amazing accuracy.  The monthly cost is $130.00, a 6 month subsciption is $600.00 and a one year subscription is $960.00.  If you would like to subscribe, click CONTACT US and we will send out the payment information and get your details.

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Comments (4)

• |2012-02-14 13:15:28 Liam Neeson  - Liam
  Thanks for this post! The basic materials sector and financial sector showed the
  most names with this pattern, CLF, POT, MOS, CF, GS, JPM and in tech, BRCM and
  CTXS. Click here to learn how this pattern is created.
  
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• |2012-03-23 06:40:07 rac  - dfdfs
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• |2012-03-28 05:49:40 racoon
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