The Evening Star is a bearish, multiple candlestick pattern formed by three consecutive candles on a chart. The Evening Star is also called an Up Trend Reversal Pattern. This means that after the Evening Star candlestick pattern appears, the stock may develop a Bearish pattern.
The market is in an Up trend, and the Bulls have complete control. The first candle of the Evening Star is a Bullish candle, indicating the strength of the Bullish market and a strong desire to buy the stock. The third candle of the Evening Star is a Bearish candle with a gap-up opening, indicating the return of the Bears to the market.
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