[BULLISH]: Spark Infrastructure has formed a new Shooting Star pattern.
This pattern consists of a white body followed by an Inverted Hammer that is characterized by a long upper shadow and a small body. It is similar in shape to the Bullish Inverted Hammer pattern but unlike it the Shooting Star appears in an uptrend and signals a bearish reversal.
Calculation: Shooting Star Candlestick Pattern:
1) The market is characterized by a prevailing uptrend;
2) The first day of the pattern is a white candlestick;
3) On the second day a small body at the lower end of the trading range is observed. Colour of this body is not important;
4) The upper shadow of this second candlestick should be at least twice as long as the body;
5) There is (almost) no lower shadow;
PROFILE: Spark Infrastructure (SKI.AX)
Stock Exchange: ASX
Company: Spark Infrastructure
Ticker Codes: | SKI.AX | ASX:SKI |
Spark Infrastructure Group is a publicly owned investment manager. The firm invests in the regulated utility infrastructure markets across the globe. Spark Infrastructure Group is based in Sydney, Australia.