Beach Petroleum (BPT)

[BEARISH]: Beach Petroleum has formed a new Two Crows reversal pattern.

This pattern is a made up of three candlesticks. The black candlesticks of the second and third day represent the two crows that perched on the first white candlestick.

Calculation: Two Crows Candlestick Pattern:
1) The market is characterized by a prevailing uptrend;
2) A strong white candlestick appears on the first day;
3) The second day is a black candlestick that gaps up;
4) On the last day another black candlestick appears that opens inside the body of the second day and then closes inside the body of the first day;

PROFILE: Beach Petroleum (BPT.AX)

Stock Exchange: ASX
Company: Beach Petroleum
Ticker Codes: | BPT.AX | ASX:BPT |

Beach Energy Limited explores, develops, produces, and sells oil, gas, and gas liquids. It holds interests in exploration and production tenements in Australia, New Zealand, and Tanzania. The company was formerly known as Beach Petroleum Limited and changed its name to Beach Energy Limited in December 2009. Beach Energy Limited was founded in 1961 and is based in Glenside, Australia.