Evening Star
A three-candle bearish reversal: a big up candle, a small indecision candle, then a big down candle that closes back into the first.
The evening star is the topping mirror of the morning star. A long green candle extends the uptrend, a small star (often gapping up) shows buying stalling, and a long red candle closes well into the green body — sellers have taken over.
It's most reliable after an extended run and on rising volume. A doji middle candle (an evening doji star) sharpens the signal.
How it has actually played out
- Evening Star: across 1,110 signals on US stocks in the last 150 days, price was lower a week later 48.2% of the time (-6.0 pts vs. an ordinary session) and lower a month later 55.1% (-3.5 pts).
Measured from the signal-day close, no stops or costs, versus every session of the same stocks over the same window. A base rate, not a prediction.
On StockSetups
On StockSetups' long-only board the evening star is a caution flag that momentum is rolling over, folded into the candle-bias read rather than traded as a short.
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