Side by Side White lines

Side by side white lines can give off a bearish signal. This pattern can show weakness in the bulls for a given security.

This particular pattern consists of three different candlesticks. The first candlestick is simply a large down day. The second candlestick the stock gaps down and attempts to push its way back up. The third day of the pattern the stock opens down, close to where the second candlestick opens.

It also tries to rally but does not make much, if any more success then the second. This day signals a downside.

Why are the side by side white lines bearish signals? When the stock attempts and fails to make a big rally twice in a row it shows that the bulls simply are not strong enough to push the stock up.