A "piercing pattern" is a two-day candlestick price pattern that indicates a likely short-term change from a downtrend to an uptrend. On the first day, the pattern has a trading range of average or greater size, with the opening around the high and the closing near the low. Furthermore, there is a gap down after the first day of trading, with the opening and closing prices on the second day being close to one another. Furthermore, the close should be a candlestick that spans at least half the upward length of the previous day's red candlestick body.