OM has shown “Engulfing (12h)” pattern 6 times between 2022-01-04 and 2025-01-02 with 85.71% accuracy. Here is a summary of the content:
What is the “Engulfing (12h)” candlestick pattern?
• Characteristics: This is a bullish reversal pattern, consisting of two candles. The second candle (usually a green candle) completely engulfs the first candle (a red candle), showing that buyers are dominating the market.
• Meaning: The pattern appears in a downtrend or a downward phase, signaling a possible reversal and price increase.
Observational data:
• Dates of appearance and price fluctuations:
• 2024-12-10: Price $4.02, up 4.92%.
• 2024-08-05: Price $1.02, up 2.99%.
• 2024-07-08: Price $0.92, up 3.20%.
• 2024-05-30: Price $0.68, up 17.97%.
• 2024-05-15: Price $0.73, up 2.47%.
Comment:
• The Engulfing pattern is often considered a strong signal to identify a bullish reversal in a downtrend.
• With 85.71% accuracy, this model has a reliable ability to predict price movements.
