List of SGX Counters Exhibiting Bullish Engulfing Candlesticks Pattern

The bullish engulfing pattern is a pair of candlesticks, the first black and the second white. The size of the black candlestick is not important. The second should be a long white candlestick – the bigger it is, the more bullish. The white body must totally engulf the body of the first black candlestick. Ideally, though not necessarily, the white body would engulf the shadows as well.

After a decline, the second white candlestick begins to form when selling pressure causes the security to open below the previous close. Buyers step in after the open and push prices above the previous open for a strong finish and potential short-term reversal. Generally, the larger the white candlestick and the greater the engulfing, the more bullish the reversal. Further strength is required to provide bullish confirmation of this reversal pattern.

Amibroker Formula Language was used to create an exploration to scan for SGX stocks with Bullish Engulfing pattern. The list was sorted according to the trading volume.