NOL, Cosco, Jaya and YangZiJiang all exhibiting the same bearish engulfing pattern
Bearish Engulfing pattern show quite a fair bit about the people betting on these shipping stocks. Bearish from a technical perspective. Trade with care.
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All the bearish engulfing pattern that you have mentioned had already happened beforehand for YZJ and Cosco. NOL is a bearish piercing pattern and Jaya can be considered as a shooting star. The levels you have marked are already nearly 2 weeks late into the pattern.
Please do remember that whether its bearish or bullish pattern needs to be accompanied by a prevailing trend to be a success as timing is everything in chart reading. I hope you are not offended by my post and I welcome your comments on it as well.