On Neck

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Figure 1. On Neck pattern.

Figure 1. On Neck pattern.

Japanese name: atekubi
Forecast: bearish continuation
Trend prior to the pattern: downtrend
Opposite pattern: none

Construction:

  • First candle
    • a candle in a downtrend
    • black body
    • appears on as a long line
  • Second candle
    • white body
    • the opening price below the previous closing price
    • the closing price is equal to the previous low price

 

The On Neck is a two-line bearish continuation pattern. The first line is a candle having a black body, appearing as a long line. The second line is a candle with a white body, but its upper and lower shadows length cannot exceed more than twice the body length.

The closing price of the second candle is at the level of the first candle's low price.

The pattern appears in a downtrend and predicts its continuation. It should be confirmed on the following candles by a candle closing below the opening price of the second line.

 

Figure 2.

Figure 2. An On Neck pattern is confirmed by a Black Candle. Pay attention that the bulls were close to canceling the On Neck occurrence, because they almost closed the gap between the first and the second line.

 

On Neck statistics

Below you can find some On Neck pattern statistics calculated by CandleScanner software. To see more detailed statistics, for other markets and periodicity try our CandleScanner software. Prices start at only $10, and you can see more detailed statistics, for other markets and periodicity. Click here to find out more!

Pattern name: On Neck
Scanner settings: daily stocks
Group: S&P500
Number of symbols: 502
Date range: 7/1/1995 - 6/30/2015
Time interval: daily candles
Total number of candlesticks: 2,236,421
Number of occurrences (On Neck): 64
Number of occurrences (all candlestick patterns): 638,570
% of occurrences (On Neck): 0.01 %
Average frequency: 34,944.1
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 12 26 7 19
% of
Occurrences
0.00 % 18.75 % 40.62 % 10.94 % 29.69 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 12 24 8 20
% of
Occurrences
0.00 % 18.75 % 37.50 % 12.50 % 31.25 %

 

10 top best performing symbols

Occurrences Statistics 5 candlesticks testing period
(HIGH efficiency)
10 candlesticks testing period
(HIGH efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
CTSH 1 4,285.0 1 100.00 % 1 100.00 %
EXC 1 5,034.0 1 100.00 % 1 100.00 %
FOXA 1 4,860.0 1 100.00 % 1 100.00 %
IR 1 5,034.0 1 100.00 % 1 100.00 %
IRM 1 4,880.0 1 100.00 % 1 100.00 %
L 1 5,034.0 1 100.00 % 1 100.00 %
MO 1 5,034.0 0 0.00 % 1 100.00 %
PGR 1 5,034.0 1 100.00 % 1 100.00 %
SE 1 2,138.0 1 100.00 % 1 100.00 %
TSS 2 2,516.5 2 100.00 % 2 100.00 %

 

10 top worst performing symbols

Occurrences Statistics 5 candlesticks testing period
(FALSE efficiency)
10 candlesticks testing period
(FALSE efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
LB 1 5,034.0 1 100.00 % 1 100.00 %
MCD 1 5,034.0 1 100.00 % 1 100.00 %
PKI 1 5,034.0 1 100.00 % 1 100.00 %
SNA 1 5,034.0 1 100.00 % 1 100.00 %
SWK 1 5,034.0 1 100.00 % 1 100.00 %
THC 1 5,034.0 1 100.00 % 1 100.00 %
BWA 2 2,517.0 1 50.00 % 1 50.00 %
CHK 2 2,517.0 1 50.00 % 1 50.00 %
PVH 2 2,517.0 1 50.00 % 1 50.00 %
NEM 3 1,678.0 1 33.33 % 1 33.33 %
Pattern name: On Neck
Scanner settings: daily stocks
Group: S&P500
Number of symbols: 502
Date range: 7/1/2010 - 6/30/2015
Time interval: daily candles
Total number of candlesticks: 614,034
Number of occurrences (On Neck): 4
Number of occurrences (all candlestick patterns): 166,328
% of occurrences (On Neck): 0.00 %
Average frequency: 153,508.5
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 0 2 1 1
% of
Occurrences
0.00 % 0.00 % 50.00 % 25.00 % 25.00 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
0 0 1 1 2
% of
Occurrences
0.00 % 0.00 % 25.00 % 25.00 % 50.00 %

 

10 top best performing symbols

Occurrences Statistics 5 candlesticks testing period
(HIGH efficiency)
10 candlesticks testing period
(HIGH efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
MO 1 1,258.0 0 0.00 % 1 100.00 %
SE 1 1,258.0 1 100.00 % 1 100.00 %
DHI 1 1,258.0 0 0.00 % 0 0.00 %
HAS 1 1,258.0 0 0.00 % 0 0.00 %

 

10 top worst performing symbols

Occurrences Statistics 5 candlesticks testing period
(FALSE efficiency)
10 candlesticks testing period
(FALSE efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
DHI 1 1,258.0 0 0.00 % 0 0.00 %
HAS 1 1,258.0 0 0.00 % 0 0.00 %
MO 1 1,258.0 0 0.00 % 0 0.00 %
SE 1 1,258.0 0 0.00 % 0 0.00 %

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