|Date||Last 3 Daily Candle Patterns||Strength|
|22-March-2017||Bearish Three Outside Down||25.7|
Stamps.com Inc. (STMP) is lagging the overall market this year. However it is still up 3.2% YTD versus up 5.9% YTD for the US market S&P 500 benchmark proxy (SPY). The daily chart of STMP above shows a Bullish Engulfing candlestick pattern appearing after recent price declines. Could the Bullish Engulfing pattern indicate a short term reversal? As with any stock there are always many factors, technical and fundamental at play that affect price action.
Let's take a look at the weekly and monthly charts...
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