QES

Sector: Semiconductor / ATE

Analyzed on 07/11/2021

Around the same time as the Bursa Technology index break above 100 points, QES has also demonstrated an interesting candlestick pattern to close the week near resistance. QES formed two large green candles sandwiching a smaller red candle. In the Chinese trading community, this candlestick pattern is called the 多方炮 (“Duo Fang Pao”). The combination of these three-candlestick pattern indicates a strong bullish momentum is forming. The pattern is similar to “Rising Three Methods”. If the bullish momentum sustains, we may see a EMA25/50 golden cross happening in near term.

Reason to monitor : Similar to “Rising Three Methods” candlestick pattern

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